Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Cadiz, Inc. To Contact The Firm - CDZI
Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in Cadiz, Inc. (“Cadiz” or the “Company”) (NASDAQ: CDZI) of the June 23, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Cadiz and certain executives.
A complaint has been filed in the Central District of California on behalf of all persons who purchased Cadiz common stock from March 10, 2014 through April 21, 2015 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that (i) the Bureau of Land Management (“BLM”) had determined that Cadiz’s primary project, the Cadiz Valley Water Conservation, Recovery and Storage Project (the “Project”) failed to meet a “railroad purpose,” which is required to use an existing right-of-way on government land and (ii) the determination of the BLM regarding the Project in conjunction with the 2012 Consolidated Appropriations Act made the Project unviable.
On April 21, 2015, SeekingAlpha.com published a report revealing that the Company had acknowledged in a letter dated July 12, 2013 that the BLM previously had determined that the Project did not meet a “railroad purpose.”
Following this news, the price of the Company’s stock declined by $0.72 per share, or over 7%, to close at $8.98 on April 21, 2015.
If you invested in Cadiz stock, bonds or options during the Class Period and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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