CHGG.US
id: 1383
Cheggs (CHGG) $55M Investor Settlement
The settlement terms have been submitted to the court for approval.
N.D. California
Court 5:21-cv-09953
Case number05/05/2020
Class period Start11/01/2021
Class period EndChegg agreed to a $55 million settlement with $CHGG investors over claims it misled them about the sustainability of its pandemic-driven growth.
Case Status
Stipulative Settlement
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Fraud,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Filing date
12/22/2021
Plaintiffs
Pompano Beach Police and Firefighters’ Retirement System
Attorneys
Johnson Fistel, LLP
Defendants
Daniel L. Rosensweig; Andrew J. Brown; Nathan Schultz
Administrator
A.B. Data Ltd
Class wide damages
$2,789,100,000
Trades matching type
FIFO
+$55,000,000
Cash Settlement Amount