The Shareholders Foundation announces that a deadline is coming up on November 17, 2014 in the lawsuit filed for investors of Bankrate Inc (NYSE:RATE) over alleged securities laws violations by Bankrate Inc.
Investors who purchased shares of Bankrate Inc (NYSE:RATE) have certain options and there are strict and short deadlines running. Deadline: November 17, 2014. NYSE:RATE stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Southern District of Florida 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.
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 $9.66 per share on October 13, 2014.
On October 17, 2014, NYSE:RATE shares closed at $9.96 per share.
Those who purchased shares of Bankrate Inc (NYSE:RATE) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego