An investigation for investors in NYSE:RATE shares over potential securities laws violations by Bankrate Inc was announced and NYSE:RATE stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 02/19/2013 -- Following yet another substantial stock drop the investigation on behalf of investors of Bankrate Inc (NYSE:RATE) shares continues concerning potential securities laws violations by Bankrate Inc and certain of its directors and officers in connection certain financial statements made between June 17, 2011 and October 15, 2012.
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 Bankrate 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 $15.30 per share in June 2011 to as high as $21.50 in late December 2011
On February 6, 2012, Bankrate Inc announced its fourth quarter and Full Year 2011 results. Bankrate’s annual Revenue rose in 2011 to $424.20 million from $220.60 million in 2010 that its Net Loss decreased to $13.42 million in 2011 from $21.40 million in 2010. Among other things, Bankrate also issued its first quarter 2012 and Full Year 2012 guidance.
NYSE:RATE grew to as high as $25.24 per share on February 27, 2012.
In the following Bankrate Inc reported for its first quarter 2012 quarterly Revenue of $135.02 million with a Net Income of $10.15 million and for the second quarter Bankrate Inc reported quarterly Revenue of $122.12 million with an increased quarterly Net Income of $28.99 million.
At both quarterly reports Bankrate Inc, among other things, reaffirmed its Full Year 2012 guidance.
Then on October 15, 2012, after the market closed, Bankrate Inc reported its third quarter fiscal 2012 result. Bankrate reported for the third quarter quarterly Revenue of $116.8 million with quarterly Net Income of $2.6 million. Among other things, Bankrate Inc lowered its FY 2012 guidance.
Shares of Bankrate Inc dropped from $14.50 per share on Oct. 15, 2012, to $10.70 on Oct. 25, 2012.
Then on February 12, 2013, after the market closed, Bankrate Inc announced its fourth quarter and full year 2012 results. Among other things, Bankrate Inc reported that is fourth quarter Revenue fell in 2012 to $93.24 million compared to $133.77 million in the fourth quarter 2011 and its fourth quarter Net Income declined in 2012 to $0.34 million from $14.04 million in the fourth quarter 2011.
Shares of Bankrate Inc (NYSE:RATE) declined from $12.38 per share on February 12, 2013, to $9.95 per share on Feb. 13, 2013.
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