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

She runs footnoted.com which she sold to Morningstar in February 2010. In September 2012, she bought the site back from Morningstar. She launched footnoted.com 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.