San Diego, CA -- (SBWIRE) -- 09/22/2014 -- An investor, who purchased shares of Bankrate Inc (NYSE:RATE), filed a lawsuit in the U.S. District Court for the Southern District of Florida over alleged violations of Federal Securities Laws by Bankrate Inc in connection with certain allegedly false and misleading statements made between March 1, 2013 and September 15, 2014.

Investors who purchased shares of Bankrate Inc (NYSE:RATE) have certain options and for certain investors are short and strict deadlines running. Deadline: November 17, 2014. NYSE:RATE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554

According to the complaint the plaintiff alleges on behalf of purchasers of Bankrate Inc (NYSE:RATE) common shares between March 1, 2013 and September 15, 2014 , that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Bankrate Inc issued allegedly materially false and misleading financial statements because Bankrate Inc’s financial statements contained errors related to the improper recognition of revenues and expenses, because Bankrate Inc lacked adequate internal controls over financial reporting, and that as a result, Bankrate Inc’s financial statements were allegedly materially false and misleading at all relevant times.

Bankrate Inc reported that its annual Total Revenue rose from $457.16 million in 2012 to $457.43 million for 2013 and that its Net Income declined from $29.33 million to a Net Loss of $10.00 million. Shares of Bankrate Inc (NYSE:RATE) declined from $22.45 per share in October 2013 to $13.52 per share in early September 2014.

Then on September 15, 2014, Bankrate Inc announced that the Securities and Exchange Commission (the "SEC") is conducting a non-public formal investigation relating to the Company's financial reporting during 2012, with the principal focus on the quarters ending March 31, 2012 and June 30, 2012. Bankrate Inc also appointed an interim Chief Financial Officer. Shares of Bankrate Inc (NYSE:RATE) declined to as low as $10.66 per share on September 15, 2014.

On September 18, 2014, NYSE:RATE shares closed at $12.09 per share.

Those who purchased shares of Bankrate Inc (NYSE:RATE) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com