Lexy Gold lives among the wealthy and elite of New York. She prides herself on her ability to get the scoop and serve it up in her school newspaper's gossip column. She competes for status on the newspaper with Jack Downey, the editor. When a photograph Lexy has taken of her teacher, Mr. Walker, is published in the city's daily paper, he goes missing and his car is found in the East River. With help from Lexy's best friend Jennifer and one of her schoolmates Gabe, Lexy and Jack set out to solve the mystery behind the disappearance.
Their teacher, Miss Dawson, becomes involved as she and Mr. Walker were having an affair. Jack receives a message from Mr. Walker about a scholarship. Lexy and Jack search his old apartment, where they run into Detective Charles Meany, who is searching for Mr. Walker. Jenn and Gabe watch Miss Dawson at Gabe's house with a video camera to keep an eye on her. Lexy and Jack later meet Mrs. Petrossian, who is Mr. Walker's mother, at her house. They discover that Mr. Walker changed his identity after being accused of stealing $10,000,000. Mr. Walker later receives a letter from the real person who stole the money, framing Mr. Walker...
The movie exhibits the following tropes:
- Action Survivor: Lexy, a amateur journalist along with her friends are all thrust into a life-threatening conspiracy involving theft and blackmail.
- Amateur Sleuth: Lexy Gold, Jack Downey, along with Lexy's friend Jennifer and their schoolmate Gabe go to great lengths try and get the inside scoop on the disappearance of their teacher.
- Big Applesauce: The story takes place in Manhattan.
- Big Bad: Detective Charles Meaney aka Falco Grandville.
- Chekhov's Skill: Lexy's interest in fashion leads her to properly identify Mrs. Petrossian's brooch as Falco's true goal.
- Clear My Name: Lexy and her friends set out to help Mr. Walker do this.
- Free-Range Children: The kids are only 13, yet they wander aimlessly around New York City with little to no supervision from their parents.
- Eureka Moment: When Lexy realizes that Mrs. Petrossian's "tacky" brooch is far more valuable than it appears.
- Genki Girl: Lexy Gold, whose impetuousness annoys Jack (who actually has a bit of a crush on her) to no end.
- Kid Detective: The main characters are preteens who solve a case that the FBI didn't get.
- King Incognito: The recurring homeless bum that is seen throughout the movie is an affluent city councilman who went to live on the streets for a month to truly understand the plight of the homeless.
- Police Are Useless: Well, not entirely, but Lexy does have to lead them to Falco in the end.
- Smug Snake: Detective Meaney aka Falco Grandville turns out to be one nasty piece of work.