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SEC accuses two Bankrate officials of manipulating results

September 8, 2015

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NEW YORK, Sept 8 (Reuters) – Two Bankrate Inc officials were sued on Tuesday by the U.S. Securities and Exchange Commission over an alleged fraudulent scheme to boost results in the second quarter of 2012 by artificially inflating revenue and understating expenses.

The SEC sued Edward DiMaria, who was Bankrate’s chief financial officer at the time, and Matthew Gamsey, who was Bankrate’s director of accounting and a vice president.

Bankrate is a financial services company known for its personal finance website, Bankrate.com.

(Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama)