San Diego, CA -- (SBWIRE) -- 10/09/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Chegg, Inc. (NYSE: CHGG), filed a lawsuit over alleged violations of Federal Securities Laws by Chegg, Inc..

Investors who purchased shares of Chegg, Inc. (NYSE: CHGG) have certain options and for certain investors are short and strict deadlines running. Deadline: November 26, 2017. NYSE: CHGG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff claims that between July 30, 2018 and September 25, 2018, the Defendants failed to disclose to investors that the Company lacked adequate security measures to protect users' data, that the Company lacked the internal controls and procedures to detect unauthorized access to its systems and to its data, that as a result, the Company would incur additional expenses and litigation risks, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

On September 25, 2018, Chegg, Inc. reported that it had "learned that on or around April 29, 2018, an unauthorized party gained access to a Company database that hosts user data for chegg.com and certain of the Company's family of brands such as EasyBib." Chegg, Inc. reported that approximately 40 million users' data, including username, email address, shipping address, and hashed password, could have been obtained and that an investigation into the incident was ongoing.

Those who purchased shares of Chegg, Inc. (NYSE: CHGG) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.