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 shareholders.
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.