BlackBerry Ltd. – BB: Removed from Watch List. We now know what the SEC was investigating Blackberry for and are removing the company from our Watch because it’s over. We know it was a formal investigation but, based on documents received, it is hard to discern if it would matter to investors. We are troubled by an especially large number of claims for confidential treatment of documents made by Blackberry related to this SEC investigation. We explain in today’s report, which also includes our full research history.