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49ers CEO Jed York is being sued over insider trading accusations

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San Francisco 49ers chief executive Jed York is being sued over accusations of insider trading related to his role on the board of an online educational company.

that two shareholder lawsuits have been filed against York and other directors of Santa Clara-based Chegg Inc.

The company’s revenues and stock price fell sharply once colleges resumed in-person testing and students couldn’t use Chegg to cheat, according to the lawsuits. Team spokesperson Brian Brokaw didn’t address specifics of the lawsuits, saying in a statement that "the 49ers are proud of the work we accomplished with Chegg to provide scholarships for first-generation students."

 

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