SAN DIEGO and NORTH PALM BEACH, Fla., Jan. 21, 2015 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Bankrate, Inc. (NYSE: RATE) breached their fiduciary duties to shareholders. Bankrate publishes, aggregates, and distributes personal finance content on the Internet.
View this press release on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/bankrate-inc-jan-2015
Bankrate Under Investigation for Financial Reporting
On September 15, 2014, Bankrate filed a From 8-K with the U.S. Securities and Exchange Commission, announcing that the SEC is conducting a non-public formal investigation of the company's financial reporting during 2012. Bankrate's Audit Committee further concluded that the company's financial statements for fiscal years 2011, 2012, and 2013 should no longer be relied upon pending a full internal review. Finally, Bankrate used the 8-K as a platform to announce the abrupt resignation of its Chief Financial Officer.
Bankrate Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
SOURCE Robbins Arroyo LLP