Jed York dismisses insider trading allegations as baseless
San Francisco 49ers CEO Jed York has dismissed insider trading allegations against him as "frivolous," stating that the lawsuit filed against him in connection with Chegg Inc. is baseless and grasping at straws. York, who is accused of using nonpublic information to sell the company's stock before its price dropped, maintains his innocence and believes the matter will be resolved quickly. While the legal process will determine the truth, it is common for defendants to label lawsuits as frivolous, even when they may have merit.
