LOS ANGELES, December 27, 2021--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Chegg, Inc. ("Chegg" or the "Company") (NYSE: CHGG) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Chegg investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/page. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On November 1, 2021, Chegg released its financial results for the first quarter in which students had returned to campuses after an extended period of remote education due to the COVID-19 pandemic. Chegg announced fewer-than-expected enrollments and did not provide fiscal 2022 guidance. Chegg’s CEO and president admitted to being aware of the slowdown in September 2021.
On this news, Chegg’s stock price fell $30.64, or 48.8%, to close at $32.12 per share on November 2, 2021, thereby injuring investors.
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