SEC drops Morningstar investigation
Morningstar, Inc. (Nasdaq: MORN) today announced it was informed by the Securities and Exchange Commission that the SEC's Division of Enforcement has decided not to proceed against Morningstar in its formal investigation of the company related to the Rock Canyon Top Flight Fund, and the matter is now closed.
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
The investigation, which began on May 24, 2004, related to incorrect total return data that Morningstar published during a short period in early 2004 with respect to a single mutual fund, the Rock Canyon Top Flight Fund.
Joe Mansueto, chairman and chief executive officer of Morningstar, said, "Obviously we're pleased with the SEC's decision and are happy to put this matter behind us."