Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Bankrate, Inc. (RATE) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Bankrate, Inc. (“Bankrate” or the “Company”) (NYSE: RATE) of the November 17, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Bankrate and certain executives.
A complaint has been filed in the United States District Court for the Southern District of Florida on behalf of all persons who purchased Bankrate securities between March 1, 2013 and September 15, 2014, inclusive (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Bankrate made false and/or misleading statements and/or failed to disclose that: (i) the Company’s financial statements included errors related to the improper recognition of revenues and expenses; and (ii) the Company did not employ adequate internal controls in connection with its financial reporting.
On September 15, 2014, Bankrate disclosed that the Securities and Exchange Commission had been investigating its financial reports for 2012. The Company further announced that its Chief Financial Officer was resigning.
Following this news, the price of Bankrate stock declined by $1.90 per share, or over 13%, to close on September 15, 2014 at $11.92 per share.
If you invested in Bankrate common stock or options between March 1, 2013 and September 15, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Bankrate’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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