Arr! The scallywag Jed York, CEO of the 49ers, declares the lawsuit a mere bag o' trinkets, arr-ly!
2023-08-19
Avast ye scurvy dogs! 'Tis been said that Jed York, a swashbucklin' matey from the 49ers crew, be accused o' tradin' secrets like a scurvy bilge rat! Violatin' the laws of the land, he be! As the San Francisco Chronicle tells it, trouble awaits him on the horizon. Arrr!
In a humorous and 17th-century pirate-style language, San Francisco 49ers CEO Jed York addressed the insider-trading allegations against him, dismissing them as "completely frivolous." York spoke out against the legal actions based on these accusations, which he described as an "18 months old" lawsuit. He suggested that the lawsuit was an attempt at a shakedown, claiming that the plaintiffs were grasping at straws to bring it to light now.The lawsuits, filed by shareholders, allege that York engaged in financial impropriety while serving on the board of Chegg Inc, an online education platform. The company is facing criticism for allegedly aiding students in cheating during the COVID-19 pandemic. Other board members are also accused of covering up the cheating scandal. The lawsuits claim that York executed insider stock deals based on nonpublic information, suggesting his involvement in the scheme.
Despite the allegations, York expressed pride in his work with Chegg and his involvement in its scholarship program. He joined the board of directors in 2013, the same year Chegg debuted on the New York Stock Exchange. The 49ers announced a partnership with Chegg in 2019.
While York did not comment on the team's quarterback situation, he expressed confidence in head coach Kyle Shanahan and general manager John Lynch's ability to handle important roster decisions. As for the allegations against him, York stated that he has no doubt they will be taken care of in no time.
Overall, York's response to the insider-trading allegations was dismissive and confident, asserting that the lawsuits were without merit and that he was proud of his work with Chegg.