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49ers CEO Accused Of Insider Trading Amid Chegg Controversy

Aug 11, 2023

A member of one of the NFL’s most prominent families is facing accusations of insider trading.

San Francisco 49ers CEO Jed York has been sued in two separate civil lawsuits in California from shareholders related to his role as a board member of educational company Chegg Inc. The company’s board and leadership have been accused of concealing its role in helping college students cheat on online exams — which ultimately became a scandal for Chegg.

The lawsuits also allege that Chegg leadership made false and misleading statements to the U.S. Securities & Exchange Commission and dumped Chegg stock at market peaks without informing investors about the depth of the cheating scandal.

Source: Front Office Sports

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