LOS ANGELES--(BUSINESS WIRE)--Glancy, Prongay & Murray LLP announces that it is investigating potential claims on behalf of investors of Bankrate, Inc. (NYSE: RATE) (“Bankrate” or “the Company”). The investigation focuses on whether the Company and its officers violated securities laws, by misleading investors regarding the strength of its internal controls, accounting and compliance practices.
On June 17, 2015, Bankrate reported that, "certain of its employees have received Civil Investigative Demands (CIDs) from the Consumer Financial Protection Bureau (CFPB) to produce certain documents and answer questions relating to the Company's quality control process for its online mortgage rate tables. The Company has cooperated in responding to the CIDs. The Company received a communication from the CFPB inviting the Company to respond to the CFPB's identified issues in the form of a Notice of Opportunity to respond and advise during which the CFPB identified potential claims it might bring against the Company." On this news, shares of Bankrate fell $2.60 per share, or 19%, to close on June 18, 2015 at $11.25 per share.
If you purchased Bankrate shares, if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy of Glancy, Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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