Jed York, the 49ers’ CEO, addressed insider-trading allegations stemming from his relationship with Chegg Inc.
SANTA CLARA — Jed York, the San Francisco 49ers’ CEO, spoke before Saturday’s preseason game and downplayed insider-trading allegations that recently came to light.
“I’m proud of our work with Chegg, proud of my work on the board and with its scholarship program,” York added. “I have no doubt this will be taken care of in no time.The lawsuits, consolidated in the U.S. District Court for Northern California earlier this year, say York, specifically, made insider stock deals based on “nonpublic information,” demonstrating “his motive in facilitating and participating in the scheme.
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