An investigation for investors in Bankrate Inc (NYSE:RATE) shares over potential securities laws violations by Bankrate was announced and NYSE:RATE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/29/2015 -- An investigation for investors in NYSE:RATE shares over potential securities laws violations by Bankrate and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Bankrate Inc (NYSE:RATE), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Bankrate Inc (NYSE:RATE) concerning whether a series of statements by Bankrate regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Bankrate Inc reported that its annual Total Revenue rose from $457.16 million in 2012 to $457.43 million in 2013, while its Net Income of $29.33 million in 2012 declined to a Net Loss of $10 million in 2013.
On June 17, 2015, Bankrate Inc (NYSE:RATE) announced the results of the internal review conducted by the Audit Committee of the Bankrate Board of Directors and the restatement of the Company's financial statements for fiscal years 2011, 2012 and 2013, the fiscal quarters within those years, and the fiscal quarters ended March 31, 2014 and June 30, 2014. Bankrate Inc also announced its financial and operating results for the fiscal year ended December 31, 2014. Bankrate Inc said that The Company and certain of its employees have received Civil Investigative Demands (CIDs) from the Consumer Financial Protection Bureau to produce certain documents and answer questions relating to the Company's quality control process for its online mortgage rate tables.
Shares of Bankrate Inc (NYSE:RATE) closed on June 25, 2015, at $10.96 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