Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Bankrate Inc (NYSE: RATE) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if 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.
On June 17, 2015, Bankrate released the details of its Securities and Exchange Commission (SEC) filing that stated "certain of its employees have received Civil Investigative Demands (CIDs) from the Consumer Financial Protection Bureau (CFPB) to produce certain documents and answer questions relating to the Company's quality control process for its online mortgage rate tables. The Company has cooperated in responding to the CIDs. The Company received a communication from the CFPB inviting the Company to respond to the CFPB's identified issues in the form of a Notice of Opportunity to respond and advise during which the CFPB identified potential claims it might bring against the Company."
Following the release of this SEC filing, shares of Bankrate declined $2.60 per share, to $11.25, or more than 19%, on June 18, 2015.
Based in North Palm Beach, FL and founded in 1993, Bankrate Inc publishes personal finance content on the Internet. The company distributes its content and rate information through its online website Bankrate.com. The company also provides insurance quotes for auto, business, health, home, life, and long-term care.
If you purchased shares of Bankrate Inc (NYSE: RATE) on or before June 17, 2015, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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