The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Chegg, Inc. (“Chegg” or “the Company”) (NYSE: CHGG) violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. During a February conference call with investors, Chegg claimed it had not seen any impact on its business caused by ChatGPT. But in a conference call held May 1, 2023, the Company’s CEO said, “since March, we saw a significant spike in student interest in ChatGPT. We now believe it’s having an impact on our new customer growth.” Based on this news, shares of Chegg fell by more than 48.4% on May 2, 2023.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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