×

Deadline on December 9, 2013 in Lawsuit for Investors in Bankrate Inc (RATE) Shares Announced by Shareholders Foundation

SF logo

SAN DIEGO, Nov. 19, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on December 9, 2013 in the lawsuit filed on behalf of certain investors in shares Bankrate Inc (RATE) over alleged Securities Laws Violations by Bankrate Inc.

If you purchased a significant amount of shares Bankrate Inc (RATE) between June 16, 2011 and October 15, 2012, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The plaintiff alleges that the defendants issued materially false and misleading statements or failed to disclose material facts concerning Bankrate's business and financial prospects. More specifically, the plaintiff claims that the defendants misled investors regarding the quality of Bankrate's insurance leads and as a result of defendants' allegedly false statements and omissions, Bankrate Inc's securities traded at artificially inflated prices between June 16, 2011 and October 15, 2012.

On October 15, 2012, Bankrate Inc announced its preliminary third quarter fiscal 2012 Results. Among other things, Bankrate Inc said its Total Revenue for the third quarter is expected to be between $115.5 million and $117.5 million. Furthermore, Bankrate Inc said it that adjusted earnings before interest, taxes, depreciation, and amortization, excluding share-based compensation expense and IPO and deal related expenses, are expected to be between $28.5 and $30 million in the third quarter of 2012, compared to $36.0 million in the third quarter of 2011, or a decline of 19% at the midpoint of the range.

Those who purchased shares of Bankrate Inc (RATE) between June 16, 2011 and October 15, 2012 have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT: Shareholders Foundation, Inc. Trevor Allen +1 (858) 779-1554 mail@shareholdersfoundation.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108

Source:Shareholders Foundation, Inc.