SOURCE: Wolf Haldenstein Adler Freeman & Herz LLP

September 24, 2014 22:15 ET

Wolf Haldenstein Adler Freeman & Herz LLP Announces That a Securities Class Action Has Been Filed Against Bankrate, Inc. in the Southern District of Florida

Investors With Losses Greater Than $100,000 Are Encouraged to Contact the Firm Immediately

NEW YORK, NY--(Marketwired - Sep 24, 2014) - Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Florida on behalf of all persons who purchased or otherwise acquired the securities of Bankrate, Inc. ("Bankrate" or the "Company") (NASDAQ: RATE) during the period March 1, 2013 and September 15, 2014, inclusive (the "Class Period").

On September 15, 2014, Bankrate disclosed that the Securities and Exchange Commission (the "SEC") is conducting a formal investigation of the Company's financial reporting, focusing mainly on the first two quarters of 2012. Bankrate also announced that its financial results for 2011, 2012 and 2013 should no longer be relied upon pending completion of an internal review. Bankrate's Chief Financial Officer Edward J. DiMaria resigned in the wake of this disclosure. On this news, the price of Bankrate stock fell $1.90 per share, or almost 14 percent, from its closing price of $13.82 on September 12, 2014, to close at $11.92 per share on September 15, 2014, on heavy trading volume.

If you purchased Bankrate, Inc. common stock during the Class Period, you may move to be appointed as lead plaintiff by November 17, 2014. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the "Bankrate Investigation."

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