Deadline Upcoming in $20 Million Settlement in the Bankrate Inc (NYSE:RATE) Investor Lawsuit

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Bankrate Inc (NYSE:RATE) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on January 21, 2017 and NYSE:RATE investors should contact the Shareholders Foundation.

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San Diego, CA -- (SBWire) -- 01/12/2017 --The Shareholders Foundation announces that a deadline is coming up on January 21, 2017 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Bankrate Inc (NYSE:RATE) between October 27, 2011 through October 9, 2014.

Investors who purchased a significant amount of shares of Bankrate Inc (NYSE:RATE) between October 27, 2011 through October 9, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Bankrate Inc (NYSE:RATE) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/bankrate-inc-nyse-rate-investor-securities-class-action-lawsuit-09172014

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is January 21, 2017. The class action administrator for this case is JND Legal Administration.

The lawsuit was originally filed in the U.S. District Court for the Southern District of Florida against Bankrate Inc over alleged violations of Federal Securities Laws.

On September 17, 2014 an investor in shares of Bankrate Inc (NYSE:RATE) filed a lawsuit in the U.S. District Court for the Southern District of Florida against Bankrate Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 1, 2013 and September 15, 2014. According to the complaint the plaintiff alleges on behalf of purchasers of Bankrate Inc (NYSE:RATE) common shares between March 1, 2013 and September 15, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Bankrate Inc issued allegedly materially false and misleading financial statements because Bankrate Inc's financial statements contained errors related to the improper recognition of revenues and expenses, because Bankrate Inc lacked adequate internal controls over financial reporting, and that as a result, Bankrate Inc's financial statements were allegedly materially false and misleading at all relevant times.

Those who purchased shares of Bankrate Inc 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

Media Relations Contact

Michael Daniels
General Manager
Shareholders Foundation
858-779-1554
http://www.ShareholdersFoundation.com

View this press release online at: http://rwire.com/759293