DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, has launched an investigation of Bankrate, Inc. (“Bankrate”) (NYSE: RATE) and several officers and directors for possible violations of federal securities laws.
The firm is investigating potential legal claims against the officers and Board of Directors of Bankrate. If you are an affected Bankrate shareholder and want to learn more about the investigation, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at email@example.com, or call toll free at (888) 809-2750. There is no cost or fee to you.
The firm seeks to determine if the defendants violated certain provisions of the Securities Exchange Act of 1934. Specifically, the investigation relates to Bankrate’s announcement on March 17, 2017, that it was unable to timely file its annual report for 2016, because a “calculation error was found 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 [its] Quizzle business.” Bankrate also announced 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.” Bankrate’s share price dropped significantly following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.