Action Eliminates Federal Court Litigation involving the Company
LOS ANGELES -- (Business Wire)
Cadiz Inc. (NASDAQ:CDZI) (“Cadiz”) reported today that a
lawsuit filed in U.S. Federal Court jointly against the Company, the
Santa Margarita Water District (“SMWD”), the County of San Bernardino
(“County”), the U.S. Department of the Interior (“DOI”) and the U.S.
Bureau of Land Management (“BLM”) has been dismissed. The Court
determined that Petitioner RiverAHA was unlikely to succeed on the
merits. The dismissal now ends the pending Federal Court litigation over
the Cadiz Valley Water Conservation, Recovery and Storage Project
(“Project”). Legal proceedings challenging the recent Project approvals
continue in California State Court.
About Cadiz Inc.
Founded in 1983, Cadiz Inc. is a publicly-held renewable resources
company that owns 70 square miles of property with significant water
resources and clean energy potential in eastern San Bernardino County,
California. The Company is engaged in a combination of water supply and
storage and organic farming projects. Cadiz abides by a wide-ranging
“Green Compact” at its properties focused on environmental conservation
and sustainable management practices. For more information about Cadiz,
FORWARD LOOKING STATEMENT: This release contains forward-looking
statements that are subject to significant risks and uncertainties,
including statements related to the future operating and financial
performance of the Company and the financing activities of the Company.Although the Company believes that the expectations reflected in our
forward-looking statements are reasonable, it can give no assurance that
such expectations will prove to be correct.Factors that could
cause actual results or events to differ materially from those reflected
in the Company’s forward-looking statements include the Company’s
ability to maximize value for Cadiz land and water resources, the
Company’s ability to obtain new financing as needed, the receipt of
additional permits for the water project and other factors and
considerations detailed in the Company’s Securities and Exchange
Courtney Degener, 213-271-1600
Source: Cadiz Inc.
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