NEW YORK, June 18, 2015 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Bankrate, Inc. (“Bankrate” or the “Company”) (NYSE: RATE). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
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 June 17, 2015, the Company announced in a Securities and Exchange Commission (SEC) filing that “certain of its employees have received Civil Investigative Demands (CIDs) from the Consumer Financial Protection Bureau (CFPB) to produce certain documents and answer questions relating to the Company’s quality control process for its online mortgage rate tables. The Company has cooperated in responding to the CIDs. The Company received a communication from the CFPB inviting the Company to respond to the CFPB’s identified issues in the form of a Notice of Opportunity to respond and advise during which the CFPB identified potential claims it might bring against the Company.”
On this news, shares of Bankrate fell $2.58 per share, to $11.27, or more than 18.63%, on June 18, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP