On January 11, 2018, Lead Counsel filed Lead Plaintiff’s Unopposed Motion for Approval of Distribution Plan with the Court. Once the Court enters its Order, the claims administrator will begin preparations for distributing the settlement proceeds to eligible claimants. We do not know how long it will take for the Court to enter its Order. Please continue to check back for updates.

 

Welcome to The City of Los Angeles, et al.

v. Bankrate, Inc., et al. Class Action Settlement Website

Read the information on this site carefully.  If you are a Settlement Class Member, your rights will be affected by the Settlement whether you take any action or not.

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.

Summary of Settlement Class Member Legal Rights and Options

The rights and options set forth in the chart below–and the deadlines to exercise them–are explained in further detail in the Notice.

Submit a Claim Form Postmarked No Later Than January 21, 2017. This is the only way to be eligible to receive a payment from the Settlement Fund.
Exclude Yourself From the Settlement Class by Submitting a Written Request for Exclusion so that it is Received No Later Than January 17, 2017. If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Defendant Related Parties concerning the Claims Released By Plaintiffs.
Object To The Settlement by Submitting a Written Objection so that it is Received no later than January 17, 2017. If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You can only object to the Settlement, the Plan of Allocation or the fee and expense request if you are a Settlement Class Member and you do not exclude yourself from the Settlement Class.
File a Notice of Appearance so that it is Received No Later Than January 17, 2017, and Go to The Settlement Fairness Hearing on February 6, 2017 at 10:00 A.M. Filing a written objection and notice of intention to appear by January 17, 2017 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and reimbursement of Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the Settlement Fairness Hearing and, at the discretion of the Court, speak to the Court about your objection.
Do Nothing. You will not be eligible to receive a payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue any of the Defendants or any of the other Defendant Related Parties about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.