NEW YORK, March 17, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the Bankrate, Inc. ("Bankrate" or the "Company") (NYSE: RATE). Such investors are advised to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/rate.
The investigation concerns whether Bankrate and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 17, 2017, pre-market, Bankrate announced that it would delay filing its annual report for 2016, citing the discovery of a "calculation error . . . in a valuation report prepared by a third party valuation specialist that was a key input in the valuation of the impairment of finite lived assets in the 2016 fiscal year in [Bankrate's] Quizzle business." Bankrate also said that it "expects to disclose a material weakness in its internal control over financial reporting in its Annual Report related to its controls over validating reports prepared by third party valuation specialists." Following this news, Bankrate stock dropped during intraday trading on March 17, 2017.
If you are aware of any facts relating to this investigation, or purchased Bankrate shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/rate. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-bronstein-gewirtz--grossman-llc-announces-investigation-of-bankrate-inc-rate-300425528.html
SOURCE Bronstein, Gewirtz & Grossman, LLC