An investigation for investors in NYSE:RATE shares over potential securities laws violations by Bankrate was announced and NYSE:RATE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/18/2016 -- An investigation for shareholders of Bankrate Inc (NYSE:RATE) over potential securities laws violations by Bankrate Inc and certain of its directors and officers was announced.
Investors who purchased shares of Bankrate Inc (NYSE:RATE), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Bankrate Inc (NYSE:RATE regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On February 24, 2016, Bankrate Inc announced its fourth quarter and full year 2015 financial results. The fourth quarter results that fell short of its previously announced earnings guidance. Bankrate Inc announced a net income of just $4.8 million for the fourth quarter of 2015, down from $10.3 million in the same period in 2014. Bankrate Inc attributed the shortfall to two factors: "First, during the quarter, Google tested placement of a version of its Compare service that took up more of the display on credit card-related search results. Second, deposit advertisers significantly reduced their ad budgets far beyond the anticipated seasonal slowdown." Shares of Bankrate Inc (NYSE:RATE) declined on February 25, 2016 to as low as $6.59 per share.
On April 14, 2016, NYSE:RATE shares closed at $9.19 per share.
Those who purchased shares of Bankrate Inc (NYSE:RATE) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com