Traced Investigations

DeepDives.

Brand profiles tell you the score. Deep dives show you the evidence. Each investigation documents a specific structural problem — a hidden acquisition, a reformulated recipe, a regulatory record, a conflict of interest — with primary sources and a direct line from cause to consequence. These are the stories behind the scores.

6
Published
5
In progress
0
Sponsored
Published investigations
6 of 6
Live Greens Powder Low Transparency
Investigation 001
AG1.
Athletic Greens · $79/month

75 ingredients. 49 hidden in a proprietary blend. Zero clinical trials on the complete formula. Podcast endorsers with undisclosed equity stakes. The most marketed greens powder is the least transparent about what you're buying.

49
Doses hidden in
prop. blend
0
Clinical trials on
full formula
Live Packaged Food Low Transparency
Investigation 002
Annie's.
Mac & Cheese · General Mills

Acquired for $820M in 2014. September 2024: butter and nonfat milk removed, replaced with corn starch. Marketed as "Now Cheesier." Protein dropped 22%. Not disclosed. Phthalates class action active since 2021.

−22%
Protein after
Sept 2024
Active
Phthalates class
action (2021–)
Live Protein Supplement Low Transparency
Investigation 003
Ghost.
Ghost Whey · Keurig Dr Pepper

Built its identity on being "owned by no one." Acquired by Keurig Dr Pepper in October 2024. The independence narrative on all brand channels remains unchanged into 2025. No NSF cert. No batch COAs.

Oct 2024
KDP acquisition
Unchanged
Independence
narrative
Live Protein Supplement Low Transparency
Investigation 004
MusclePharm.
Combat Protein · Nasdaq: MSLP

$4M FTC settlement. SEC investigation of the former CEO. Revenue down ~70% from peak. Class action for protein spiking. Still on shelves at GNC with no label disclosure of any of this history.

$4M
FTC settlement
(2014)
Active
SEC investigation
ex-CEO
Live Chocolate Low Transparency
Investigation 005
Reese's.
Hershey Company · Nasdaq: HSY

PGPR added 2006 — castor oil emulsifier replacing cocoa butter, 18 years before the cocoa crisis. Hershey's CFO confirmed formula changes in the Q4 2024 investor call. They told Wall Street. They told consumers nothing.

2006
PGPR added —
not disclosed
14
Ingredients now
vs. 9 originally
Live Protein Bar Low Transparency
Investigation 006
David.
Protein Bar · Peter Rahal

Peter Attia: equity investor + Chief Science Officer + product promoter — until he resigned February 2026 following Epstein document release. Andrew Huberman: equity investor + promoter. The AG1 model, newer brand, better macros.

Feb 2026
Attia resigned
as CSO
2
Equity investor-
promoters
In progress
5 queued
In progress
Halo
Top
Ice Cream · Wells Enterprises
2023 Nature Medicine study found erythritol — Halo Top's primary sweetener — associated with cardiovascular risk at doses the brand's "eat the whole pint" marketing encourages. Zero response from Wells Enterprises.
Sweetener risk · Non-disclosure
In progress
Vital
Proteins
Collagen · Nestlé Health Science
Collagen has a PDCAAS of 0 — it is not a complete protein. Jennifer Aniston's role is a paid commercial arrangement, not equity. Acquired by Nestlé 2020–21. $20/serving for a supplement with no amino acid completeness.
Protein claim inflation · Celebrity endorsement
In progress
Herbalife
MLM Supplements · NYSE: HLF
$200M FTC settlement. Mandated business restructuring. Multiple FDA warning letters. Class actions tied to liver damage. Distributor revenue model: earn from recruiting, not selling.
MLM structure · FTC settlement · FDA warnings
In progress
Hu
Chocolate · Mondelēz International
"Get Back to Human" — acquired by Mondelēz (Cadbury, Oreo, Toblerone) in 2021. The cleanest ingredient story in premium chocolate now routes revenue to one of the largest conventional confectionery conglomerates.
Acquisition concealment · Mission drift
In progress
Beyond
Meat
Plant-Based Protein · Nasdaq: BYND
Going-concern notice 2024. Stock down ~98% from peak. Revenue declined 4 consecutive years. "Made from plants" marketing on a NOVA 4 ultra-processed product with 5× the sodium of ground beef.
Hype cycle · Label claims · Financial distress
How deep dives work
Primary sources.
No affiliates.
No advertisers.
Selection criteria
A brand earns a deep dive when the story behind its score is complex enough to require documentation beyond a profile card — acquisition arcs, regulatory records, ingredient-level evidence, or conflicts of interest that take more than a verdict to explain.
Source standard
Every factual claim is sourced to primary documents: SEC filings, FTC consent decrees, FDA warning letters, peer-reviewed studies, court filings, or direct product testing. Secondary sources are cited only where primary documents are paywalled or inaccessible.
Revenue policy
Traced accepts no advertising, sponsorship, affiliate revenue, or brand partnerships. No brand has paid to be included, excluded, or scored favorably. Funding is reader-supported. Scores are not for sale.