BusinessDen v. Caligaris

Case Number: 2026CV30797

Court: Boulder County District Court

Client: BusinessDen

Background: In January 2025, the small mountain town of Nederland, Colorado, announced its interest in acquiring the Eldora Mountain Resort. The town later announced it planned to finance the purchase, expected to total at least $120 million, by issuing bonds. 

In May 2026, Thomas Gounley, a reporter for BusinessDen, submitted a Colorado Open Records Act request to the Town of Nederland seeking access to the documents provided to potential buyers of the bonds, including the Preliminary Limited Offering Memo. A PLOM is used to market bonds ahead of a sale, and it typically contains information about the bond issuer’s financial status and the terms of the bond.   

The town denied Gounley’s request, claiming the sought records are shielded from public disclosure under CORA’s trade secrets and real estate appraisals exemptions as well as federal securities law.

On behalf of BusinessDen, Reporters Committee Colorado-based attorney Rachael Johnson sued the town clerk for access to the records. The lawsuit, which argues the documents are not exempt from disclosure under CORA’s narrow exemptions or federal law, asks the Boulder County District Court to order the town to release the records.  

Filings:

2026-09-04: Complaint