Online financial publishing company Bankrate Inc. disclosed on Monday that the Securities and Exchange Commission is investigating its financial reporting for 2012 and that its chief financial officer of eight years has resigned.
The SEC is investigating three accruals of revenue together amounting to $781,000 as well as two adjustments to lessen accrued expenses totaling about $850,000, the company said. The agency’s probe focuses on the quarters ending March 31, 2012 and June 30, 2012, and examines whether accounting entries during those times may have had an effect on Bankrate’s reported results, the company added.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
