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49ers CEO Jed York is facing Insider Trading allegations for making 1.4 million

49ers CEO Jed York has some explaining to do. According to San Francisco Chronicle, York is being accused of insider trading and dumping the company’s stock. He reportedly made 1.4 million dollars in profit by selling 20,000 shares at an artificially inflated price.

York is on the board of directors of Chegg Inc. which has been hit with several major lawsuits for helping students cheat on their online exams.

During the pandemic the revenue of the company skyrocketed, and when students learned they could use a Chegg account to get real-time answers on their college tests administered they made money.

If found guilty of insider trading York could be punished big time by the NFL. I wonder how they will hold a CEO liable. Will it be harder than they hit their players? We will see.

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