Morningstar Associates, LLC Subpoena from the New York Attorney  General’s Office 16. Contingencies InvestPic, LLC Egan-Jones Rating Co. Business Logic Holding Corporation Morningstar, Inc. 2010 Annual Report 135 In addition to these proceedings, we are involved in legal proceed- ings and litigation that have arisen in the normal course of our  business. Although the outcome of a particular proceeding can never  be predicted, we do not believe that the result of any of these other  matters will have a material adverse effect on our business, operat- ing results, or financial condition. We cannot predict the scope, timing, or outcome of this matter,  which may include the institution of administrative, civil, injunctive,  or criminal proceedings, the imposition of fines and penalties, and  other remedies and sanctions, any of which could lead to an adverse  impact on our stock price, the inability to attract or retain key employ- ees, and the loss of customers. We also cannot predict what impact,  if any, this matter may have on our business, operating results, or  financial condition. In November 2009, Business Logic Holding Corporation filed a com- plaint in the Circuit Court of Cook County, Illinois against Ibbotson  Associates, Inc. and Morningstar, Inc. relating to Ibbotson’s prior  commercial relationship with Business Logic. Business Logic is  alleging that Ibbotson Associates and Morningstar violated Business  Logic’s rights by using its trade secrets to develop a proprietary  web-service software and user interface that connects plan par- ticipant data with the Ibbotson Wealth Forecasting Engine. Business  Logic seeks, among other things, injunctive relief and unspecified  damages. Ibbotson and Morningstar answered the complaint, and  Ibbotson asserted a counterclaim against Business Logic alleging  trade secret misappropriation and breach of contract, seeking dam- ages and injunctive relief. While Morningstar and Ibbotson  Associates are vigorously contesting the claims against them, we  cannot predict the outcome of the proceeding. In January 2007, Morningstar Associates received a Notice of  Proposed Litigation from the New York Attorney General’s office.  The Notice centers on disclosure relating to an optional service  offered to retirement plan sponsors (employers) that select 401(k)  plan services from ING, one of Morningstar Associates’ clients. The  Notice gave Morningstar Associates the opportunity to explain why  the New York Attorney General’s office should not institute proceed- ings. Morningstar Associates promptly submitted its explanation  and has cooperated fully with the New York Attorney General’s office. In 2005, Morningstar Associates received subpoenas seeking infor- mation and documents related to investigations being conducted  by the SEC and United States Department of Labor. The subpoenas  were similar in scope to the New York Attorney General subpoena.  In January 2007 and September 2009, respectively, the SEC and  Department of Labor each notified Morningstar Associates that it had  ended its investigation, with no enforcement action, fines, or penalties. In June 2010, Egan-Jones Rating Co. filed a complaint in the Court  of Common Pleas of Montgomery County, Pennsylvania against  Realpoint, LLC and Morningstar, Inc. in connection with a December  2007 agreement between Egan-Jones and Realpoint for certain  data-sharing and other services. In addition to damages, Egan-Jones  filed a petition seeking an injunction to temporarily prevent  Morningstar from offering corporate credit ratings through December  31, 2010. In September 2010, the court denied Egan-Jones’s request  for a preliminary injunction against Morningstar’s corporate credit  ratings business. Realpoint and Morningstar continue to vigorously  contest liability on all of Egan-Jones’ claims for damages. We can- not predict the outcome of the proceeding. In November 2010, InvestPic, LLC filed a complaint in the United  States District Court for the District of Delaware against Morningstar,  Inc. and several other companies alleging that each defendant  infringes U.S. Patent No. 6,349,291, which relates to methods for  performing statistical analysis on investment data and displaying  the analyzed data in graphical form. InvestPic seeks, among other  things, unspecified damages because of defendants’ alleged infring- ing activities and costs. Morningstar is evaluating the lawsuit but  cannot predict the outcome of the proceeding. In December 2004, Morningstar Associates, LLC, a wholly owned  subsidiary of Morningstar, Inc., received a subpoena from the New  York Attorney General’s office seeking information and documents  related to an investigation the New York Attorney General’s office  is conducting. The subpoena asks for documents relating to the  investment consulting services the company offers to retirement  plan providers, including fund lineup recommendations for retirement  plan sponsors. Morningstar Associates has provided the requested  information and documents.