Disclosure Insight Maintains Medium Risk – Negative Bias on Morningstar

D.I. Reports reiterates its Medium Risk – Negative Bias on Morningstar Inc. MORN on insider ownership, senior leadership positions held, lack of quarterly calls and ongoing investigations, among others. According to D.I., “MORN has a small float with Chairman & CEO Joe Mansueto holding 49.69% of the common stock as of Mar-11. Mansueto has served as Chairman since 1984 and CEO from 1984 - 1996 and again from 2000 to present. In Dec-04, MORN received a subpoena from the NYAG concerning information and documents about the investment consulting services of Morningstar Associates (a MORN subsidiary). In Jan-07, MORN disclosed receiving a Notice of Proposed Litigation from the NYAG's office that asked for an explanation regarding instituting proceedings against the company. The matter appears ongoing. In Feb-11, the company dismissed Ernst & Young as the company's auditor and engaged KPMG.” MORN closed Tuesday up 1.76 percent at $60.15 a share.