Zeldes Haeggquist & Eck, LLP Announces Investigation of Bankrate, Inc.
SAN DIEGO -- October 23, 2013
Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation
firm, has commenced an investigation into Bankrate, Inc. (NYSE:RATE)
(“Bankrate”) to determine whether the directors and officers of the Company
have engaged in wrongdoing to the detriment of the Company and its
Bankrate is a publisher and distributor of online personal finance content.
The Company generates revenue by, among other things, selling customer contact
information or “leads” to companies that offer financial products – such as
insurance, credit cards, and mortgages – to consumers. On October 15, 2012,
the Company announced that Bankrate would not meet its previously announced
earnings expectations for third quarter 2012, due to reductions in the volume
of its insurance leads as a result of their poor quality.
On this news, the price of Bankrate stock dropped from $14.50 on October 15,
2012 to close at $11.26 on October 16, 2012. We are investigating whether
directors and officers of Bankrate breached their fiduciary duties in
connection with the above.
What You Can Do
If you are a Bankrate shareholder and you wish to discuss this investigation,
or have questions about this notice or your legal rights, please contact
attorney Amber L. Eck at 619-342-8000, or by email at firstname.lastname@example.org. There
is no cost to you.
Zeldes Haeggquist & Eck, LLP is a full-service law firm which brings major
class actions nationwide on behalf of defrauded investors and consumers and
handles a variety of complex business litigation matters. Please visit
www.zhlaw.com or our blog for more information about the firm.
Zeldes Haeggquist & Eck, LLP
Amber L. Eck, 619-342-8000
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