Bankrate, Inc. is an American financial services company that publishes, aggregates, and distributes personal finance content on the internet.

According to the law firm press release, the lawsuit alleges Bankrate issued materially false and misleading financial statements because (1) Bankrate's financial statements contained errors related to the improper recognition of revenues and expenses; (2) the Company lacked adequate internal controls over financial reporting; and (3) as a result, the Company's financial statements were materially false and misleading at all relevant times.

According to the Complaint, on September 15, 2014, Bankrate disclosed that the SEC has requested documents related to its financial reporting during 2012, and that the Chief Financial Officer has resigned. The Company also announced that in connection with the SEC's investigations, investors should no longer rely on its 2011, 2012, and 2013 financial statements. That day, the Company's stock price fell as much as 22%, damaging investors.

On July 18, 2016, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved by the Court on August 24. On February 6, 2017, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

The Court issued an Order approving the Settlement's distribution plan on January 26, 2018.