An investigation for shareholders in Cadiz Inc (NASDAQ:CDZI) shares over potential wrongdoing at Cadiz Inc was announced and NASDAQ:CDZI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/28/2015 -- An investigation for shareholders in shares of Cadiz Inc (NASDAQ:CDZI) was announced over potential breaches of fiduciary duties by certain officers and directors at Cadiz Inc.
Investors who purchased shares of Cadiz Inc (NASDAQ:CDZI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Cadiz officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On April 21, 2015,a report was published alleging, among other things, that Cadiz Inc's water mining project has effectively failed with imminent NEPA federal review and that governing authority Metropolitan Water District has definitively stated that it has "already made the determination" and "don't see how it can be built," while also indicating subsidy impossibility.
In April 2105 a lawsuit was filed against Cadiz Inc over alleged securities laws violations. The plaintiff claimed that Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that the Bureau of Land Management had previously determined that Cadiz Valley Water Conservation, Recovery and Storage Project did not meet a "railroad purpose" as required to use an existing right-of-way on government land and that the B Bureau of Land Management's determination concerning the Cadiz Valley Water Conservation, Recovery and Storage Project t in conjunction with the 2012 Consolidated Appropriations Act rendered the project unviable.
On Monday, October 5, 2015, Cadiz Inc provided guidance to shareholders that Cadiz Inc had learned through third parties that the U.S. Bureau of Land Management ("BLM") intended to find that the Project's proposed use of the ROW was outside the scope of the original grant. Cadiz Inc has since confirmed the decision and has submitted a letter in response to the U.S. Director of the BLM.
Shares of Cadiz Inc (NASDAQ:CDZI) declined from $13.31 per share in August 2014 to as low as $2.71 per share on October 13, 2015.
On October 27, 2015, shares of Cadiz Inc closed at $3.33 per share.
Those who purchased NASDAQ:CDZI shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego