Bankrate to pay $15 million to settle SEC fraud charges


To match Special Report SEC/INVESTIGATIONS Bankrate Inc (RATE.N) agreed to pay $15 million to settle U.S. Securities and Exchange Commission charges that it engaged in accounting fraud to ensure that its financial results met analyst expectations.

The SEC also sued former Chief Financial Officer Edward DiMaria and former director of accounting Matthew Gamsey, and reached a $180,045 settlement with former vice president of finance Hyunjin Lerner.

Bankrate is a New York-based consumer financial information provider known for itsBankrate.com and CreditCards.com websites.

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http://www.reuters.com/article/2015/09/08/us-sec-bankrate-idUSKCN0R81U920150908