Vail Resorts faces third lawsuit alleging anticompetitive behavior

Vail Resorts is facing its third lawsuit this year alleging anticompetitive business practices. Investor Gary Peterson filed a “stockholder derivative complaint” in U.S. District Court in Denver on August 24, naming the company and its board of directors, including CEO Robert Katz, as defendants.

The lawsuit alleges that executives breached their fiduciary responsibilities by either knowingly violating antitrust laws or disregarding red flags regarding anticompetitive conduct. This specific complaint builds upon two previous lawsuits filed earlier this year in the same court. One prior suit accuses the company of colluding with other ski resort companies to fix pass prices, while another alleges the company artificially inflated daily pass prices to drive customers toward multi-resort season passes.

Pass pricing is central to the company’s operations; in fiscal year 2025, Vail Resorts reported that advance-sold pass products accounted for approximately 65% of total lift revenue and 75% of total visitation. A spokesperson for Vail Resorts stated that the company believes the claims are “without merit” and intends to defend the board and the company vigorously.