Cadiz Wins Dismissal in Santa Margarita Suit; Shares Flow Up 2%

By Staff,

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Cadiz Inc. ( CDZI ) reported that a lawsuit has been dismissed that had been filed in U.S. Federal Court against the company, the Santa Margarita Water District, the county of San Bernardino, the U.S. Department of the Interior and the U.S. Bureau of Land Management.

Shares of CDZI are up 25 to $10.19 in midday trade.

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. Legal proceedings challenging the recent Project approvals continue in California State Court.

CDZI shares are trading within a 52-week range of $6.48 - $11.39.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: CDZI

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