NEW ORLEANS -- (Business Wire)
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces
that KSF has commenced an investigation into Bankrate, Inc. (NYSE: RATE).
On September 15, 2014, Bankrate disclosed that the Securities and
Exchange Commission (“SEC”) is conducting a formal investigation related
to the Company’s financial results from 2012. The Company further
disclosed that its chief financial officer has resigned and that its
Audit Committee has determined that its previously issued financial
statements for fiscal 2011, 2012 and 2013 shouldn't be relied on,
pending the conclusion of an ongoing internal review.
On this news, the price of Bankrate’s shares plummeted.
KSF’s investigation is focusing on whether Bankrate and/or its officers
and directors violated state or federal securities laws.
If you are a Bankrate shareholder that has suffered losses related to
your investment or have information that would assist KSF in its
investigation, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities class action
and shareholder derivative litigation with offices in New York,
California and Louisiana. KSF's lawyers have significant experience
litigating complex securities class actions nationwide on behalf of both
institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, 1-877-515-1850
Managing
Partner
lewis.kahn@ksfcounsel.com
Source: Kahn Swick & Foti, LLC
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