LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP reminds investors of the November 17, 2014 deadline to move for appointment as lead plaintiff in the securities class action litigation on behalf of Bankrate, Inc. securities investors (“Bankrate” or the “Company”) (NYSE:RATE) between March 1, 2013 and September 15, 2014, inclusive (the “Class Period”). 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.
Please contact Lesley Portnoy or Casey Sadler, at (888) 773-9224 or (310) 201-9150, or at firstname.lastname@example.org to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
The Complaint alleges that throughout the Class Period, 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.
If you purchased Bankrate securities during the Class Period, you may move the Court no later than November 17, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.