|By Marketwired .||
|October 15, 2013 10:00 PM EDT||
NEW ORLEANS, LA -- (Marketwired) -- 10/15/13 -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 9, 2013 to file lead plaintiff applications in a securities class action lawsuit against Bankrate, Inc. (NYSE: RATE), if they purchased the Company's securities in or traceable to the Company's June 16, 2011 initial public offering ("IPO"), in a December 6, 2011 secondary offering ("Secondary Offering"), or on the open market during the period from June 16, 2011 through October 15, 2012 inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Bankrate and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org) or KSF Partner Melinda Nicholson (email@example.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 9, 2013.
About the Lawsuit
Bankrate and certain of its executives are charged with issuing a series of materially false and misleading statements, including in its IPO and Secondary Offering prospectuses, during the Class Period, violating federal securities laws.
After the market closed on October 15, 2012, the Defendants announced that the Company would not meet its earnings expectation for the third quarter of 2012 due to the reductions in the volume of Bankrate's insurance leads because of their poor quality. The next day, the price of Bankrate shares fell dramatically by over 22%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.