An investigation on behalf of investors who hold shares of Bankrate Inc (NYSE:RATE) over potential securities laws violations by Bankrate Inc was announced and NYSE:RATE stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 01/07/2013 -- An investigation on behalf of investors who hold shares of Bankrate Inc (NYSE:RATE) was announced concerning whether Bankrate Inc potentially violated Federal Securities Laws in connection with certain financial statements.
Investors who purchased shares of Bankrate Inc (NYSE:RATE) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Bankrate Inc (NYSE:RATE) concerning whether a series of statements by Audience Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shares of Bankrate Inc (NYSE:RATE) grew from as low as $14.85 per share in August 2011 to as high as $24.75 per share in March 2012.
Then on October 15, 2012, after the market closed, 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.
Shares of Bankrate Inc (NYSE:RATE) fell from $14.50 per share on October 15, 2012 to $10.40 per share on October 16, 2012 and continued to decline to as low as $10.17 on November 8, 2012.
Those who purchased shares of Bankrate Inc (NYSE:RATE) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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