If you have losses from investing in Chegg, Inc (CHGG), contact Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com.
Chegg, Inc. is California-based education company that was incorporated in 2005. The company offers a variety of services for students, including textbooks, study, writing, and math subscription services.
Recently, Pearson Education, a textbook publishing company, filed suit against Chegg, claiming the education technology company is allegedly infringing on Pearson’s copyright. The lawsuit was brought only a few months after a partnership between the two companies ended.
Pearson alleges that Chegg infringed on its copyright by selling answers to end-of-chapter questions included in Pearson textbooks. The answers are available to students via Chegg Study, an online tool that provides answers to a large number of homework questions for a monthly fee.
Public Offerings
Chegg held its initial public offering (IPO) in 2013 and began trading on the NYSE with the symbol CHGG.
In February, 2021 the company closed a public offering of 11,274,600 shares of common stock at a price of $102 per share. 10,974,600 of the shares were sold by the company. 300,000 shares were sold by Chegg president, CEO, and co-chairperson of the board, Dan Rosenweig.
Goldman Sachs & Co. LLC, Morgan Stanley, and Allen & Company LLC were the joint book-running managers for the offering, with Needham & Company, William Blair, KeyBanc Capital Markets, Raymond James, Barrington Research, Craig-Halllum, Berenburg, and Northland Capital Markets as co-managers.
Since the February, 2021 offering, Chegg stock has declined significantly. On November, 1, 2021, Chegg stock closed the day at $62.76. The next day the stock opened at $32.12. As of this writing, the stock trades at less than $30 per share and has a market cap of about $4.3 billion.
Recover Chegg, Inc (CHGG) Investment Losses
Silver Law Group is a nationally-recognized law firm representing victims of securities and investment fraud. We represent investors in class action lawsuits against issuers in federal and state court as well as investors in securities arbitration claims against brokerage firms for stockbroker misconduct.
Scott Silver, Silver Law Group’s managing partner, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice. Our attorneys have extensive experience representing victims of securities and investment fraud and frequently speak at top industry conferences, law schools and associations regarding securities and investment fraud. Contact us for a no-cost consultation at ssilver@silverlaw.com or call (800) 975-4345.