They said they were defrauded by developer Peter Knobel. Now they’ll pay his legal bills.
The court also ruled that the investors and their attorneys do not have to pay $1.6 million in attorney fees to the project’s developers.
Vail Resorts claims it is being treated worse than other developers. Its lawsuit contains satellite images that purport to show Vail has allowed “significant construction to occur squarely in the middle of the bighorn sheep’s range” while blocking Vail Resorts from building.
The 146 companies in Colorado that made the cut were topped by a firm in Vail, but 97 of the companies are based in the Denver metro area.
“This was our seven-year, long-term plan all along, and we figured we would strike when the iron’s hot,” Wade Murphy said of relocating to Vail Valley.
Residents of Red Sky Ranch claim an unscrupulous arrangement has unfairly saddled them with debt and illegally enriched the company.
Both chains are owned by Broomfield-based Vail Resorts, which will transfer the bike stores’ inventory to its outdoor sports gear retailer.
The retail and office deal was for about 70,000 square feet. More than 100 condos on the building’s upper floors were not included.
The plaintiffs, who helped fund Solaris to get green cards, are appealing and have also refiled in state court.
His shares have risen 35 percent in 2017 and almost 300 percent over the last 5 years.