Cadiz Inc. is an American company that engages in water resource and agricultural development activities in San Bernardino County, California.

According to the law firm press release, the lawsuit alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Bureau of Land Management (“BLM”) had previously determined that Cadiz Valley Water Conservation, Recovery and Storage Project (the “Project”) did not meet a “railroad purpose” as required to use an existing right-of-way on government land and (ii) the BLM’s determination concerning the Project in conjunction with the 2012 Consolidated Appropriations Act rendered the project unviable. When the true details entered the market, the lawsuit claims that investors suffered damages.

Plaintiffs filed an amended Complaint on October 21, 2015.

The parties entered into a Stipulation of Settlement on June 16, 2016. This Settlement was preliminarily approved by the Court on September 30. On February 8, 2017, the Court granted final approval of the Settlement and dismissed this case with prejudice. On April 24, 2018, the Court issued an Order authorizing final distribution of Settlement funds.