Morningstar Inc. announced Tuesday that it acquired the Footnoted.org blog and the related Footnoted Pro service for an undisclosed price. Footnoted.org, a well-known business journalism blog, was founded in 2003 by business journalist Michelle Leder. Footnoted's research staff reads hundreds of SEC filings a day to unearth information buried in the fine print, such as evidence of aggressive accounting, excessive compensation, or the type of questionable self-dealing that can indicate more serious problems at a company. With insight and analysis culled from corporate filings, Footnoted's free site has become a must-read for professional money managers and analysts, as well as sophisticated individual investors. The company also publishes Footnoted Pro, a service for institutional investors, such as hedge fund firms, that provides insight on actionable items and trends in filings.