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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 number
05/05/2020
Class period Start
11/01/2021
Class period End
Chegg 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