Do your homework. Since the business deals with text books they should understand what homework means versus magical thinking.
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"This is an action to recover up to $2,500,000 worth of textbooks stolen from the online textbook retailer, Chegg," the 10-page complaint states. "Through an illicit scheme, certain college students in the Orange County area ('the students') discovered a way to fraudulently obtain textbooks from Chegg's website, chegg.com. Through this scheme, the students illegally acquired over 10,000 textbooks belonging to Chegg and subsequently sold them to defendants who own and operate college bookstores in Orange County."
Chegg claims that the defendants "were not bona fide, good faith purchasers of the stolen textbooks. Rather, as prudent purchasers, highly experienced in the college textbook industry, defendants had constructive notice that the thousands of textbooks being sold to them (many of which bore obvious signs that Chegg's labels had been removed) for a nominal purchase price were stolen goods."
Chegg claims the students ordered textbooks from its website and had them delivered to different Orange County addresses. When the textbooks arrived, Chegg says, the students reported that they had received the wrong book, so Chegg "immediately" sent another copy.
"Instead of returning the original textbooks in accordance with Chegg policies, the ringleaders retained both the original and replacement copies, and, on information and belief, sold them to defendants for resale in defendants' bookstores," the complaint states.
Chegg claims the students used the scheme to swipe more than 10,000 textbooks worth between $1 million and $2.5 million, which they sold to the defendants for cash.
To top it off, Chegg claims, the defendants bamboozled the students.
"In consideration for $150,000 worth of stolen textbooks, defendants entered into an agreement to transfer a bookstore located at 7314 Center Avenue, Huntington Beach, California 92647 ('College Books Huntington Beach') to the students (the 'agreement').
Chegg's finances still have something vital we're lacking; IPO funds. Any company planning for diversification needs a well to draw from. And normally it's significantly greater as a percentage to size than the current 20 million future fund. Easy to find their balance sheets though, what about ours?
Chegg is still renting and the reviews for Chegg are better than Folletts. The value of Follett stock has been declining for years. Varsity Books, Big Words and the others you are referencing was what ten years ago? Amazon's methods aren't working? Yes they offer multiple vendors including students, duh?
Had a Publisher Rep in my store and he's wondering why the custom package isn't selling. He actually says to me they must have gone to our website and purchased. Really? More dead inventory.
Chegg is just about done. They reported decline in sales, got rid of rental inventory and focusing on services (homework help-what a joke). Read their quarterly stock market updates. Remember Bookrenter, Varsity Books, Big Words and the others? Chegg is going down, they have VC of 150 million and never made a dime, stock price is horrendous. The vendors are all splintered meaning not an efficient shopping experience for students or schools. Amazon is the primary but even they realize that the margin on text is so low it is difficult to discount and make money - notice that when you rent it is not from Amazon but a different company on Amazon's site.
Pearson, Chegg, CourseSmart and others are worthy service providers.
Amazon.com