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SEC Ends Probe Of Gradient, Will Not File Charges

Law360 (February 15, 2007, 12:00 AM EST) -- Gradient Analytics Inc. said Wednesday that the U.S. Securities and Exchange Commission had finished its investigation into the stock-research company and would not recommend any enforcement action.

According to Gradient President Brad Forst, the SEC reviewed hundreds of thousands of documents and interviewed numerous witnesses regarding allegations of market manipulation, but did not find any wrongdoing.

“We stand by our research,” Forst said. “Independent and objective research may be unpopular with some companies, but it is vital information in the equities market. We are not surprised...
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