A potential threat to the Aspen Ski Co and KSL acquisition of Intrawest has flamed out after Edward Hayden, the stockholder who filed the original suit decided to drop his legal claim altogether this past Wednesday.
The lawfirm representing Mr. Hayden issued a notice of dismissal in the US District Court of Denver reports the Aspen Times. The suit claimed that Intrawest failed to sufficiently illustrate the benefits of the sale as it pertained to the individual stockholders. That claim seems strange seeing as Intrawest stocks soared following the sale to KSL and Aspen Skiing Company.
The motive for withdrawing the lawsuit remains a mystery but we will keep updating this story as new information becomes available.
Find the entire Aspen Times article here: Stockholder drops lawsuit challenging Intrawest sale to Aspen Skiing Co., KSL