Chegg accuses Google of using AI to crush traffic, revenue in antitrust lawsuit: ‘Harmful and unsustainable'
1. Chegg sues Google for AI-generated summaries that hurt its traffic. 2. Non-subscriber traffic fell 49%, deeply impacting Chegg’s revenue. 3. Shares dropped nearly 90% over 12 months; valuation is at $110M. 4. Chegg is reviewing strategic options including privatization or sale. 5. The lawsuit alleges antitrust violations under the Sherman Act.