If you purchased or otherwise acquired Bankrate shares and would like more information regarding the investigation, we encourage you to click here, or contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at email@example.com.
Bankrate announced that it would delay filing its annual report for 2016, attributing this to the discovery of a "calculation error . . . in a valuation report prepared by a third party valuation specialist that was a key input in the valuation of the impairment of finite lived assets in the 2016 fiscal year in [Bankrate's] Quizzle business."
Bankrate also stated that it "expects to disclose a material weakness in its internal control over financial reporting in its Annual Report related to its controls over validating reports prepared by third party valuation specialists."
When this information was revealed to investors, the value of Bankrate fell, causing investors harm.
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