ATLANTA, July 28, 2009 (GLOBE NEWSWIRE) -- Holzer Holzer & Fistel, LLC is investigating whether Bankrate, Inc.'s directors complied with their fiduciary duties in approving the proposed buyout of Bankrate, Inc. ("Bankrate" or the "Company") (Nasdaq:RATE) by Apax Partners, ("Apax"). According to the Company's announcement of July 22, 2009, Apax has agreed to pay $28.50 per share of Bankrate common stock. The announcement further states that the transaction is scheduled to close not later than the third quarter of 2009. Bankrate stock traded above $39 per share as recently as January 2009.
Current holders of Bankrate common stock with questions concerning their legal rights are encouraged to contact Holzer Holzer & Fistel, LLC and its attorneys Michael I. Fistel Jr., Esq. or Marshall P. Dees, Esq. via email at cholzer@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Corey D. Holzer is the attorney responsible for its content.