Liberty Broadband Corp Series A
LBRDA
Communication Services
2
exclusion reasons
1 theme
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.
Liberty Broadband Corporation’s primary operating subsidiary, Charter Communications, operates under multiple ongoing consent decrees and regulatory settlements stemming from systemic compliance failures. The company is subject to a 2021 FTC order and separate 2021 SEC settlement concerning its failure to register as an investment company under the Investment Company Act, violations which persisted for years. These were not isolated incidents; Charter also operates under a 2017 New York State Attorney General settlement over internet speed claims and a 2019 California Public Utilities Commission decision regarding utility pole attachment rules.
This pattern extends to workplace safety. Charter Communications has accumulated dozens of OSHA violations across multiple states, including repeat and willful citations for serious electrical safety hazards, fall protection failures, and other preventable safety breaches that endangered telecommunications technicians. While individual OSHA penalties are often statutorily capped, the volume and recurrence of these violations across Charter’s national footprint indicate a broader operational pattern where regulatory compliance is treated as a cost of business rather than a core responsibility.
Liberty Broadband Corporation is a holding company whose corporate structure and recent transactions are engineered to manage and minimize tax obligations. The company is party to a tax sharing agreement with Liberty Sirius XM Holdings, under which it is generally responsible for taxes and losses resulting from the separation of that entity. In June 2025, Liberty Broadband entered into a Separation and Distribution Agreement to spin off its subsidiary GCI Liberty. The transaction was structured to be taxable both to Liberty Broadband and its shareholders, a central focus of which was determining whether the distribution would be treated as a dividend for tax purposes. This follows a pattern within the broader Liberty corporate family, which includes an ongoing tax refund suit filed by the government against related entity Liberty Global Inc. in U.S. district court. The company's operations are characterized by complex inter-entity agreements and transactions primarily focused on the tax consequences of corporate separations.
Research Sources
13 organizations
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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.
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