LAWSUITS NEWS & LEGAL INFORMATION
Morningstar Inc.
Boston, MA: (Sep-04-07) Research firm Morningstar Inc. found itself faced with a lawsuit brought by Graham Rich, the founder of its Australian subsidiary. Morningstar invested in FPG Research Pty Limited in 1999, now known as Morningstar Australia. The suit was sparked by disputes that arose between Morningstar and Rich over several matters, culminating in the firing of Rich in 2001 and the filing of a lawsuit by him.
In a settlement reached, Morningstar Inc. agreed to pay $3.2 million to settle the legal dispute. As part of the settlement with Rich, the former managing director of Morningstar Research Pty Ltd, the parties agreed to dismiss and release all claims. Chicago-based Morningstar said it had previously set aside reserves of about $2.1 million in connection with the dispute. [REUTERS: FOUNDER DISPUTE]
Published on Sep-5-07
In a settlement reached, Morningstar Inc. agreed to pay $3.2 million to settle the legal dispute. As part of the settlement with Rich, the former managing director of Morningstar Research Pty Ltd, the parties agreed to dismiss and release all claims. Chicago-based Morningstar said it had previously set aside reserves of about $2.1 million in connection with the dispute. [REUTERS: FOUNDER DISPUTE]
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