10-16-13 6:49 PM EDT | Email Article

WAYNE, Pa., Oct. 16, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased or otherwise acquired Bankrate, Inc. ("Bankrate" or the "Company") (NYSE: RATE) securities in or traceable to the Company's June 16, 2011 initial public offering, in a December 6, 2011 secondary offering, or on the open market during the period from June 16, 2011 through October 15, 2012 inclusive (the "Class Period").

(Logo: http://photos.prnewswire.com/prnh/20121112/MM11729LOGO )

For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/rate.   

The complaint charges the Company and certain of its officers and directors with violations of the Securities Exchange Act of 1934.  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 leads.

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 are a member of the class, you may, no later than December 9, 2013, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  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 Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/rate or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com.  For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm.  Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.

CONTACT:                Ryan & Maniskas, LLP 
                                 Richard A. Maniskas, Esquire 
                                 995 Old Eagle School Rd., Suite 311 
                                 Wayne, PA 19087 
                                 484-588-5516 
                                 877-316-3218 
                                 www.rmclasslaw.com/cases/rate  
                                 rmaniskas@rmclasslaw.com

 

 

 

SOURCE Ryan & Maniskas, LLP

Add a Comment

News   More...

Securities related to this article
Korea Mgt Consulting & Credit Rating Co., Ltd. View 034950 Stock Quote
PennantPark Floating Rate Capital View pflt Stock Quote
PennantPark Floating Rate Capital View pflt Stock Quote
Bankrate Inc View rate Stock Quote
Bankrate Inc View rate Stock Quote
 
Start Premium Trial Register For Free

P F Fund Financial Data (13,000+ funds)
P F Stock Financial Data (7,000+ stocks)
P F Stock and Fund Screeners (basic)
P F Investing Articles and Market Commentary
P F Articles Archive (>30 days)
P F Discuss (dozens of stock, fund, bond, and general bulletin boards)
P F Portfolio Manager (basic)
P F Morningstar Investment Classroom
P F Access Your Portfolio Anytime, Anywhere via Your Mobile Device
P   Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)
P   Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)
P   Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)
P   Portfolio Monitor (monthly and on-demand personalized portfolio statements)
P   Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)
P   Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters
P   Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)
P   Discounts on Morningstar newsletters, books, seminars, and more

Sign-up to Morningstar


Basic Access

Articles and Videos
Morningstar video reports, articles, data, and tools. Dig into our lineup of e-newsletters and investing classroom courses outlining sensible strategies for maximizing your investments.
Morningstar Discuss
Follow the buzz on individual stocks or fund families. Plus, read the latest posts from Morningstar members and analysts.
Portfolio Manager
Track your investments and watch lists with our Portfolio Manager. Customize your view with our comprehensive stock, fund, and ETF data.

Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.

Unlimited Access

Analyst Research
Gather in-depth, actionable insight on over 3,700 stock and mutual funds covered by Morningstar analysts. View our mutual fund Analyst Reports favored by professionals, savvy experienced investors, and new investors researching options for retirement savings, college plans, or other investment needs.
Portfolio X-Ray®
Ensure your portfolio is positioned exactly how you want with Morningstar's X-Ray Interpreter and Stock Intersection tools. A Barron's "Best of the Web" award winner for five years running, X-Ray Interpreter goes under the hood of your portfolio to provide a useful allocation, sector, and geographic analysis. And you can discover how much of a stock you really own, individually and through mutual funds, with Stock Intersection.
Investment Picks
Find new 5-star stocks (greatly undervalued companies) to consider daily. Our 5-star stock rating is a proven winner, consistently beating benchmarks like the S&P 500. Plus, browse our Fund Analyst Picks and Stewardship Grades to find shareholder-friendly mutual funds that are poised for outperformance.
Portfolio Monitor
Get a clear view of your investments with personalized reports about your portfolio. Receive monthly statements and generate reports on-demand to help you stay on track to meet your investment goals.

Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.

Content Partners
Morningstar - 2013/10/16 - Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Bankrate, Inc.
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Company |  Symbol |  Interest |  Popularity Title |  Date |  Author |  Collection |  Interest |  Popularity

Previous: Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Ariad Pharmaceuticals Inc.  |  Next: Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Barnes & Noble, Inc.