March 6, 2019

Baton Holdings LLC, the successor in interest to Bankrate Inc., agreed to pay $28 million to resolve a government investigation into securities fraud committed by former Bankrate executives. According to settlement documents, the executives caused shareholders to suffer $25 million in losses by artificially inflating company earnings and making false statements to independent auditors. Two of the executives, former CFO Edward DiMaria and former VP of finance Hyunjin Lerner, were previously sentenced. DOJ

Tagged in: Misrepresentations, Securities Fraud,