Leeds United twist as 49ers chief named in civil lawsuits
Leeds United and 49ers chief Jed York has been named in a new civil lawsuit, according to the Daily Mail.
The newspaper reported on its website on Thursday (10 August) that the 46-year-old is facing two insider trading lawsuits over his involvement in an education website that has been accused of helping college students cheat.
York, who is CEO of the San Francisco 49ers and a member of the Leeds United ownership group is joined by other Chegg Inc. executives in being accused of hiding the website’s involvement in aiding the students to cheat on tests during the pandemic.
Explaining the rest of the scandal, Alex Raskin wrote: “The filings go on to claim that when the pandemic ended and college students returned to the classroom, Chegg profits quickly plummeted. The 43-year-old York allegedly made $1.4 million by selling 20,000 Chegg Inc. shares ‘at artificially inflated prices,’ according to the lawsuit.
“Forty-Niners spokesman Brian Brokaw responded to the lawsuits in a statement that neglected to mention the pending legal actions: ‘The 49ers are proud of the work we accomplished with Chegg to provide scholarships for first-generation students.'”
More chaos
One normal day at Leeds United is all most people ask for. Whether the Whites lose their captain to a foot injury as he scores, have a player stolen from their grasp at the 11th hour or even have a board member sued, there’s never a dull moment at Elland Road.
What this lawsuit will mean for Leeds is hard to predict as nothing mentioned in the Mail’s report directly impacts the Whites, with just one of their board members named as having done anything wrong alongside those at Chegg.
Insider trading is never a particularly good look, especially when you’re trying to make a good impression on the fanbase of your new football teams, but it is more than likely that this shouldn’t have any effect on actions at Elland Road this summer.
The Whites have been attempting to make reinforcements to their squad throughout the transfer window, with Joe Rodon set to join Daniel Farke’s ranks on loan while a deal for Max Aarons has fallen through as he looks ready to join Bournemouth instead.
The 49ers aren’t finished investing at Elland Road this summer and regardless of what is happening in the courtroom, that is unlikely to change.
In other Leeds United news, the Whites are still interested in signing a former star, if a replacement can be found at Turf Moor