The Board of Directors of Bankrate, Inc. (NYSE:RATE) authorized a share repurchase plan on February 12, 2013. Under the plan, the company will repurchase up to $70 million worth of the common stock. Repurchases may be made in open market or private transactions. The timing of the repurchases will depend on several factors, including prevailing market conditions and prices. The program is effective immediately and will expire on December 31, 2014. As of March 31, 2013, ... no repurchases were made.
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GetAutoInsurance.com Agency, LLC, along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Northern District of Georgia on February 7, 2013. The affiliates include Map General Agency, Inc., Lindsay General Insurance Agency, LLC and Destiny General Agency, Inc. The debtor listed its assets of $0.27 million and liabilities of $0.51 million. The largest unsecured creditor includes All Web Leads, Inc., Bankrate, ... Inc., Gardere Wynne Sewell LLP, Gardere Wynne Sewell LLP, Leadkarma LLC, ListMarketer Software, Inc., Moss Affiliate Marketing, Nation Motor Club, Inc., NetQuote, Inc., Precise Leads Inc and Quotewizard.Com. The debtor is represented by George M. Geeslin of George M. Geeslin, PC and Evan M. Altman as its legal counsels with a collective retainer of $20,000 and hourly rate of $300. The US Bankruptcy Court granted an order for the joint administration of the Chapter 11 bankruptcy cases of GetAutoInsurance.com Agency, LLC and its affiliates on March 18, 2013. The affiliates include Map General Agency, Inc., Lindsay General Insurance Agency, LLC and Destiny General Agency, Inc. The cases would be jointly administered for administrative and procedural purposes. GetAutoInsurance.com Agency, LLC has been designated as the lead debtor.
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