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.
CSX is a major freight railroad company operating across the eastern United States. This exclusion is based on a documented pattern of systematic wage theft, misclassification of employees as contractors, unpaid overtime, or other schemes to extract labor value without fair compensation, as categorized under the worker_exploitation code.
A specific narrative detailing the incidents, scale, regulatory findings, or settlement terms from the cited U.S. Department of Labor - OSHA source cannot be constructed at this time. Further evidence is required to substantiate the exclusion with the necessary factual detail regarding dates, locations, affected worker counts, and penalty amounts.
Research Sources
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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.