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Stock Market & Financial Investment News

News Breaks
January 10, 2014
09:45 EDTRATEWellington reports 11.4% passive stake in Bankrate
News For RATE From The Last 14 Days
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September 19, 2014
10:10 EDTRATEBankrate management to meet with Topeka
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September 16, 2014
15:03 EDTRATEBankrate downgraded following disclosure of SEC investigation, CFO change
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09:59 EDTRATEOn The Fly: Analyst Downgrade Summary
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07:55 EDTRATEStephens to hold a field trip
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06:15 EDTRATEBankrate downgraded to Sell from Hold at Topeka
Topeka downgraded Bankrate to Sell due to the SEC investigation into 2012 financial reporting, unreliable financials 2011-2013, and uncertainty in regards to the CFO transition.
06:13 EDTRATEBankrate disclosed formal investigation by SEC with CFO change
Bankrate announced yesterday morning that SEC is conducting a non-public formal investigation relating to the company's financial reporting during 2012, with the principal focus on the quarters ending March 31, 2012 and June 30, 2012. The investigation is examining three accruals of revenue totaling approximately $781K in the aggregate and two adjustments to reduce accrued expenses totaling approximately $850K in the aggregate. The investigation is also examining, among other things, the timing and classification of additional entries relating to certain expenses, expense accruals and credits in the second quarter and other periods in 2012. The investigation is examining whether accounting entries in these periods may have improperly impacted the company's reported results, including relative to market expectations at such time. In connection with the ongoing SEC investigation, on September 14, Bankrate's Audit Committee concluded that the company's previously issued financial statements for each of fiscal years 2011, 2012 and 2013 should no longer be relied upon pending the conclusion of a full internal review of these matters, which is ongoing. The Audit Committee is retaining additional counsel and independent forensic accountants, who will be assisted in this review by Steven Barnhart. Bankrate yesterday also announced the appointment of Steven Barnhart, as interim CFO, effective immediately.
September 15, 2014
10:16 EDTRATEBankrate sharse defended at SunTrust
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07:02 EDTRATEBankrate appoints Steven Barnhart as interim CFO effective immediately
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