Press release from Business Wire
Law Offices of Todd M. Garber Announces Investigation of Bankrate, Inc.
Monday, May 13, 2013
Law Offices of Todd M. Garber Announces Investigation of Bankrate, Inc.09:32 EDT Monday, May 13, 2013
LOS ANGELES (Business Wire) -- The Law Offices of Todd M. Garber announces that it is investigating potential claims against Bankrate, Inc. (“Bankrate” or the “Company”) (NYSE:RATE) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by Bankrate between June 16, 2011 and October 15, 2012 were false and misleading concerning the Company's business and financial prospects.
Bankrate publishes, aggregates and distributes personal finance content on the Internet. The investigation is related to Bankrate's October 15, 2012 disclosure that its preliminary third-quarter revenue and earnings were significantly below expectations due to transitions in its insurance lead business. Following this news, shares of Bankrate declined $3.24 per share, or 22.34%, to close on October 16, 2012 at $11.26 per share, on heavy trading volume.
If you purchased Bankrate securities prior to or between June 16, 2011 and October 15, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California