SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Bankrate, Inc. and Certain Officers -- RATE


NEW YORK, Oct. 24, 2014 (GLOBE NEWSWIRE) -- Pomerantz LLP has filed a class action lawsuit against Bankrate, Inc. ("Bankrate" or the "Company") (NYSE:RATE) and certain of its officers. The class action, filed in United States District Court, Southern District of Florida, and docketed under 14-cv-81183, is on behalf of a class consisting of all persons or entities who purchased Bankrate securities between March 1, 2013 and September 15, 2014, inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").

If you are a shareholder who purchased Bankrate securities during the Class Period, you have until November 17, 2014 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.

Bankrate is a leading publisher, aggregator and distributor of personal finance content on the Internet. Through its online network including Bankrate.com, its flagship website, the Company provides consumers with independent personal finance editorial content in subject matters such as mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Bankrate's financial statements contained errors related to the improper recognition of revenues and expenses; (2) the Company lacked adequate internal controls over financial reporting; and (3) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.

On September 15, 2014, the Company filed a Form 8-K with the SEC, announcing, among other things, that the SEC is investigating the Company's financial reporting during 2012 and some of its previously issued financial statements should no longer be relied upon. On this news, the Company's shares fell $1.90, or over 13%, to close at $11.92 per share on September 15, 2014.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.



            

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