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Gary Peterson Files Securities Class Action Lawsuit Against Vail Resorts Over Alleged Price-Fixing and Fiduciary Breaches

Gary Peterson, a Minnesota-based investor, has filed a 55-page securities class action lawsuit against Vail Resorts and its board of directors. The complaint alleges that the company's leadership failed to prevent conduct that led to multiple antitrust lawsuits, specifically accusing the board of breaching its fiduciary duties by allowing the company to collude with competitors to inflate ski pass prices. Peterson argues that Vail Resorts' leaders misled shareholders regarding the company's compliance with its own ethics code and antitrust laws. The lawsuit echoes two existing federal antitrust cases that accuse Vail Resorts and other industry giants like Alterra Mountain Co. from conspiring to coordinate price increases for lift tickets and passes. While Vail Resorts disputes the claims, asserting they are without merit, the company faces a multi-front legal challenge. The lawsuit seeks a jury trial and compensation for the company from its directors and executives for the alleged harms tied to the antitrust litigation.

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