NEW YORK, Nov. 15, 2018 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Chegg, Inc. (NYSE: CHGG) from July 30, 2018 through September 25, 2018, inclusive (the "Class Period") of the important November 26, 2018 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Chegg investors under the federal securities laws.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Chegg lacked adequate security measures to protect users' data; (2) Chegg lacked the internal controls and procedures to detect unauthorized access to its systems and to its data; (3) as a result, Chegg would incur additional expenses and litigation risks; and (4) as a result of the foregoing, defendants' positive statements about Chegg's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 26, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1421.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Advertising. Prior results do not guarantee a similar outcome.