September 08, 2015

Bankrate Inc., Hyunjin Lerner

Financial Fraud

SANCTION AMOUNT: $15,180,045

Defendants: Bankrate Inc.
Hyunjin Lerner

Settlement of allegations that the revenues of defendant company were fabricated and booking certain expenses avoided in order to meet analyst estimates for the key financial metrics of adjusted earnings per share and adjusted EBITDA. Second quarter 2012 net income was overstated. Individual was the vice president of finance and allegedly complicit; his portion of this sanction was $180,045.

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