Violations of federal securities laws as a result of a series of materially false statements. Cadiz Inc. operates as a land and water resource development company in the United States and engages in water resource, and land and agricultural development activities, in San Bernardino County properties. On April 21, 2015, a report was published on seekingalpha.com that cited documents, received pursuant to a Freedom of Information Act ("FOIA") request, concerning Cadiz's water project. According to the report, the FOIA documents reveal that the Company's main water project has effectively failed due to regulatory concerns and budgetary constraints, and that the Company is nearing bankruptcy. On this news, the Company's shares fell $0.72, or by nearly 8% per share, to close on April 21, 2015 at $8.98 per share. Filed in C.D. Cal.
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