Investment research provider Morningstar, Inc. announced the acquisition of Footnoted.org for an undisclosed sum. Founded in 2003, Footnoted scours SEC findings to derive critical financial information, including evidence of aggressive accounting, excessive compensation, and other questionable activities. In addition to its free site, Footnoted offers Footnoted Pro, a paid service that provides insight and findings to investors and hedge fund firms.
CEO Michelle Leder, a former journalist and author, will continue to operate Footnoted, while Morningstar will adopt some of the site's content for its own investment site, Morningstar.com. Footnoted Pro will also be offered to Morningstar's existing clients. Footnoted's website will also be transitioning from www.footnoted.org to www.footnoted.com.