Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In The Class
Action Lawsuit Against Bankrate, Inc.
LOS ANGELES -- November 22, 2013
Glancy Binkow & Goldberg LLP announces that all purchasers of the securities
of Bankrate, Inc. (“Bankrate” or the “Company”) (NYSE:RATE) in or traceable to
the Company's June 16, 2011, initial public offering or on the open market
between June 16, 2011 and October 15, 2012, inclusive (the “Class Period”),
have until December 9, 2013, to file a motion to be appointed as lead
plaintiff in the shareholder lawsuit filed in the United States District Court
for the Southern District of New York. Investors who have losses of $750,000
or more are encouraged to contact the firm for information concerning a lead
plaintiff position in the shareholder lawsuit.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212)
682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF
YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND
NUMBER OF SHARES PURCHASED.
Bankrate publishes, aggregates and distributes personal finance content on the
Internet. The Company generates revenues by, among other things, connecting
consumers to companies that offer financial products – such as insurance,
credit cards and mortgages – by providing referrals of interested customers’
contact information, or “leads,” to its client companies. The Complaint
alleges that defendants issued materially false and misleading statements or
failed to disclose material facts concerning Bankrate’s business and financial
prospects. Specifically, the Complaint alleges that defendants misrepresented
or omitted material facts about the true quality of Bankrate’s insurance
On October 15, 2012, the Company announced that Bankrate would not meet its
publicly announced earnings expectations for third quarter 2012, due to
reductions in the volume of its insurance leads as a result of their poor
quality. Following this news, the price of Bankrate stock declined
approximately 22%, from a closing price of $14.50 on October 15, 2012, to a
closing price of $11.26 on October 16, 2012, on heavy trading volume.
If you wish to learn more about this action or have any questions concerning
this announcement or your rights or interests with respect to these matters,
please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP,
1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free
at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow &
Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at
(212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website
at http://www.glancylaw.com. If you inquire by email please include your
mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg, (888) 773-9224
Glancy Binkow & Goldberg LLP, New York, NY
Gregory Linkh, (212) 682-5340 or (888) 773-9224
Press spacebar to pause and continue. Press esc to stop.