Important Update: At the Settlement Fairness Hearing on February 6, 2017, the Court granted final approval of the Settlement. The Court also approved Lead Counsel's Motion for an Award of Attorneys' Fees and Expenses. Copies of the Court's orders are available on the Key Dates/Documents page.
The United States District Court for the Southern District of Florida has preliminarily approved the proposed Settlement reached in the class action lawsuit known as The City of Los Angeles et al. v. Bankrate, Inc., et al., Case No. 9:14-cv-81323-DMM (the "Action"). If granted final approval by the Court, the Settlement will resolve allegations that Defendants violated the federal securities laws by making materially false and misleading statements and failing to disclose certain material facts about Bankrate Inc.'s financial results during the Settlement Class Period.
The Purpose of This Website
This Website has been established to provide general information regarding the proposed Settlement. The Website is intended (1) to inform you of the lawsuit, (2) to describe the Settlement and provide information on how you can submit a claim in order to be potentially eligible to receive a distribution from the net Settlement proceeds, (3) to notify you of your options in connection with the Settlement and how your legal rights are affected, (4) to let you know of the upcoming final approval hearing, and (5) to advise you on how to obtain additional information about the lawsuit and the Settlement.
Who is Eligible for a Payment?
To be potentially eligible to receive a payment from the net Settlement proceeds, you must be a member of the Settlement Class. The Settlement Class consists of all persons and entities who or which purchased or otherwise acquired the common stock of Bankrate during the period from October 27, 2011 through October 9, 2014, inclusive, including in the March 2014 Secondary Offering of Bankrate common stock. Excluded from the Settlement Class are Defendants and Former Defendants; members of the Immediate Family of any Defendant or Former Defendant; any firm, trust, corporation, or other entity in which any Defendant or Former Defendant has or had a controlling interest, and any legal representatives, heirs, successors-in-interest, or assigns of any such excluded person. Notwithstanding the foregoing exclusions, Investment Vehicles shall not be excluded from the Settlement Class. Also excluded from the Settlement Class are any persons and entities who or which exclude themselves from the Settlement Class by submitting a request for exclusion that is accepted by the Court.
How to Participate in the Settlement
If you are a Settlement Class Member and wish to be potentially eligible to receive a payment from the net Settlement proceeds, you must timely complete and return the Claim Form with supporting documentation postmarked no later than January 21, 2017. You can file a claim online or mail a complete and signed Claim Form to The City of Los Angeles, et al. v. Bankrate, Inc., et al., c/o JND Legal Administration, P.O. Box 6847, Broomfield, CO 80021.