Chegg (CHGG) said Monday that it has filed a complaint against Alphabet (GOOG) and its Google unit over alleged unfair competition, saying that Google's AI Overviews feature has materially impacted traffic and revenue.
Chegg alleges Google uses AI-generated content from third-party sites including Chegg, unfairly exercises its monopoly power, and reaps the financial benefits of third-party content.
The education technology company said it is conducting a strategic review and looking into the possibility of being acquired, going private, or remaining as a standalone public company.
Chegg Chief Executive Nathan Schultz said the strategic review is connected to the lawsuit against Google, "as we would not need to review strategic alternatives if Google hadn't launched AI Overviews."
Shares of Chegg fell 34% in early trading.
Google did not immediately respond to a request for comment from MT Newswires.
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