Federal Lawsuit Aims to Stop Mount Snow Sale to Vail Resort - NECN
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Federal Lawsuit Aims to Stop Mount Snow Sale to Vail Resort

The lawsuit accuses Peaks Resorts executives and directors of violating securities rules for required statements while soliciting shareholder votes, according to a report

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    Federal Lawsuit Aims to Stop Mount Snow Sale to Vail Resort

    An investor in Mount Snow's parent company, Peak Resorts, wants to stop a vote on whether to merge with Vail Resorts unless more information is disclosed

    The Brattleboro Reformer reports that the lawsuit accuses Peaks Resorts executives and directors of violating securities rules for required statements while soliciting shareholder votes. It seeks to stop the $463.6 million transaction, which is anticipated to close this fall.

    In July, Peak Resorts announced it entered a merger agreement with Vail Resorts.

    The federal suit was filed Thursday in federal court in Missouri, where Peak Resorts has executive offices in Wildwood. The company runs 17 ski resorts in the country and has not yet filed a response in court. A Mount Snow spokesman declined comment.

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