Bankrate has reached a final settlement with the Securities and Exchange Commission that concludes the company’s part in its investigation related to its historical financial reporting for the quarter ended June 30, 2012.
Without admitting or denying the findings in the SEC’s administrative cease-and-desist order, Bankrate agreed to pay a civil penalty of $15 million and entered into a consent order.
The accounting entries encompassed by this settlement were addressed as part of the restatement that Bankrate previously disclosed in its Form 10-K filed on June 18, 2015. As previously disclosed, the company reserved $15 million relating to the settlement of this matter in the quarter ended September 30, 2014.
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