Binkow & Goldberg LLP announces that a class action lawsuit has
been filed in the United States District Court for the Southern District
of New York on behalf of a class (the “Class”) comprising all purchasers
of Bankrate, Inc. (“Bankrate” or the “Company”) (NYSE:RATE) securities
in or traceable to the Company's June 16, 2011, initial public offering,
including purchasers in the Company’s December 6, 2011, Secondary
Offering or on the open market between June 16, 2011 and October 15,
2012, inclusive (the “Class Period”). Investors who have losses of
$750,000 or more are encouraged to contact the firm for information
concerning a lead plaintiff position in the shareholder lawsuit.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY
BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR
AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM
TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR
MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Bankrate publishes, aggregates and distributes personal finance content
on the Internet. The Company generates revenues by, among other things,
connecting consumers to companies that offer financial products – such
as insurance, credit cards and mortgages – by providing referrals of
interested customers’ contact information, or “leads,” to its client
companies. The Complaint alleges that defendants issued materially false
and misleading statements or failed to disclose material facts
concerning Bankrate’s business and financial prospects. Specifically,
the Complaint alleges that defendants misrepresented or omitted material
facts about the true quality of Bankrate’s insurance leads.
On October 15, 2012, the Company announced that Bankrate would not meet
its publicly announced earnings expectations for third quarter 2012, due
to reductions in the volume of its insurance leads as a result of their
poor quality. Following this news, the price of Bankrate stock declined
approximately 22%, from a closing price of $14.50 on October 15, 2012,
to a closing price of $11.26 on October 16, 2012, on heavy trading
If you are a member of the Class described above you may move the Court
no later than December 9, 2013, to serve as lead plaintiff; however, you
must meet certain legal
If you wish to learn more about this action or have any questions
concerning this announcement or your rights or interests with respect to
these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail 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.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Copyright Business Wire 2013