Financial Fineprint to Take Over Footnoted Business from Morningstar
Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, and Michelle Leder announced today that Financial Fineprint, Inc., a privately held firm led by Leder, has agreed to take over Morningstar's footnoted business, which includes the footnoted.com website (formerly footnoted.org) and the footnotedPro service. The footnoted business was acquired by Morningstar in 2010 from Financial Fineprint. Leder founded footnoted in 2003. Terms of the transaction were not disclosed.
"I am looking forward to taking back the reins of the footnoted business and working with our customers and subscribers to find new ways to invigorate the footnoted brand," Michelle Leder, president of Financial Fineprint, said.
Leder is an author and journalist based in Peekskill, N.Y. Footnoted uncovers interesting information and trends buried in routine SEC filings. The footnotedPro service for institutional investors, such as hedge funds, provides information on actionable items and trends in SEC filings.
"We've made a strategic business decision to simplify and streamline our product offerings," Joe Mansueto, chairman and CEO of Morningstar, said. "Although we share a common goal with Michelle, which is to help investors make better decisions, the footnoted business does not fit into our longer-term strategic plans. We wish