COSTAR GROUP INC
CSGP
Real Estate
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
In June 2025, the U.S. Ninth Circuit Court of Appeals revived a major antitrust lawsuit (CoStar v. CREXi), ruling CoStar plausibly used monopoly power for anticompetitive conduct including "de facto exclusive deals" with brokers and "technological barriers" to freeze out competitors. Additionally, CoStar is a central defendant in Portillo v. CoStar Group, a price-fixing lawsuit alleging its STR subsidiary functions as a "hub" for illegal information exchange among luxury hotel operators to inflate room rates.
Investigative reporting (Business Insider, The Real Deal) and verified employee accounts describe a "culture of fear" and "surveillance-driven" management. In 2024-2025, intrusive oversight practices included unannounced video calls to remote workers and a 37% turnover rate in a single year, far exceeding industry norms. Indicates systemic corporate negligence regarding employee mental health and psychological safety.
Research Sources
1 organization
Related Exclusions
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.