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Bankrate, Inc. (RATE)

NYSE:RATE

Summary

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against Bankrate, Inc.

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York, case No. 1:17-cv-05844, on behalf of shareholders of Bankrate, Inc. (“Bankrate” or the “Company”) (NYSE:RATE) who have been harmed by Bankrate’s and its board of directors’ (the “Board”) alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with  the proposed merger of the Company with Red Ventures Holdco, LP (“Red Ventures”) and Baton Merger Corp, an indirect wholly owned subsidiary of Red Ventures that will function as the merger subsidiary in the merger.

On July 2, 2017, the Board caused the Company to enter into an Agreement and Plan of Merger (“Proposed Transaction”), under which the Company’s shareholders stand to receive $14.00 in cash for each share of Bankrate common stock they own (the “Merger Consideration.  The shareholder vote on the Proposed Transaction is expected to occur on September 13, 2017.

The complaint alleges that the Proxy Statement (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”) on July 28, 2017, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company’s financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to Bankrate shareholders.

Take Action

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from August 22, 2017.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.  If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact Nadeem Faruqi, Esq. either via e-mail at nfaruqi@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330 or James M. Wilson, Jr., Esq. at jwilson@faruqilaw.com.

Request Information

Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.

  • Company:
    Bankrate, Inc. (RATE)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Nadeem Faruqi
James M. Wilson, Jr.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 08/22/2017

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