Reading the Fine Print in SEC Filings

Michelle Leder explains how companies can hide information in SEC filings and gives some examples of what her company,, has revealed to help make companies more transparent.

Michelle is a leading expert on SEC filings and has spent the past decade uncovering and understanding the hidden meanings in seemingly routine SEC filings. Her insights on SEC filings — and SEC rules and regulations – are routinely featured in the national media. She runs which she sold to Morningstar in February 2010. In September 2012, she bought the site back from Morningstar. She launched in 2003, following the publication of “Financial Fine Print: Uncovering a Company’s True Value” which teaches investors how to spot red flags in accounting statements and SEC filings. Ms. Leder holds a Bachelor in Economics from Brandeis University in Waltham, MA.

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