In an article titled "Setting the Record Straight on Our Fund Ratings," Jeffrey Ptak wrote that the Journal's findings were "selectively disclosed" and that "highly rated funds were far more likely to outperform low-rated funds."
A spokesperson for Morningstar also said Thursday that the company had contacted the Journal to request corrections to "numerous points that mischaracterize our business."
Ptak is the head of global manager research for Morningstar, according to his company bio.
The Journal's story raised serious questions about the effectiveness of Morningstar's coveted rating system. The paper examined the performance of thousands of funds that the company reviewed over nearly 15 years and found that funds the company rated highly failed to deliver.
"We strongly disagree with the interpretations that they drew," Ptak said on CNBC's "Power Lunch" on Thursday afternoon.
Shares of 'MORN' fell 4.6 percent to a close of $82.75 Wednesday on the news, the biggest loss in two years. The stock came roaring back on Thursday, rising more than 5 percent.