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CHICAGO (AP) - Morningstar Inc., the mutual-fund and stock research company, said Wednesday the Securities and Exchange Commission has ended an investigation related to erroneous data published by the company in 2004.
The SEC launched its probe in May 2004 after Morningstar published incorrect total return data for the Rock Canyon Top Flight Fund during a short period earlier that year. Its enforcement division had told Morningstar it intended to recommend the agency take legal action for an alleged violation of U.S. securities laws.
Morningstar said it has been informed that the SEC's enforcement division would not pursue its formal investigation and that the matter is now closed.
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