An investigation for investors in Bankrate Inc (NYSE:RATE) shares over potential securities laws violations by Bankrate Inc was announced and NYSE:RATE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/30/2017 -- Bankrate Inc is under investigation concerning potential violations of securities laws. The investigation was announced on behalf of investors of Bankrate Inc (NYSE:RATE) shares in connection certain financial statements made by Bankrate Inc.
Investors who purchased shares of Bankrate Inc (NYSE:RATE), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on certain 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 March 17, 2017, Bankrate Inc announced that it would delay filing its annual report for 2016, citing the discovery of a "calculation error . . . 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 [Bankrate's] Quizzle business." Bankrate Inc also said 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."
On March 29, 2017, NYSE:RATE shares closed at $9.60 per share.
Those who purchased shares of Bankrate Inc have certain options and should contact the Shareholders Foundation.
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