BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims against Bankrate, Inc. (“Bankrate” or the “Company”) (NYSE:RATE) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between June 16, 2011 and October 15, 2012, regarding Bankrate’s business, operations and prospects were false and misleading.
Bankrate publishes, aggregates, and distributes personal finance content on the Internet. Specifically, the investigation relates to Bankrate’s October 15, 2012, disclosure that its preliminary third-quarter revenue and earnings were significantly below expectations due to transitions in its insurance lead business. On this news, shares of Bankrate declined $3.24 per share, 22.34%, to close on October 16, 2012, at $11.26 per share, on heavy trading volume.
If you purchased Bankrate securities, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.