NEW YORK, May 1, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action has been filed in the United States District Court for the Central District of California against Cadiz Inc. (“Cadiz” or the “Company”) (NASDAQ: CDZI). The class period is March 10, 2014 through April 21, 2015, inclusive (the “Class Period”). Wolf Haldenstein encourages all shareholders who suffered losses on common stock purchased within the Class Period to contact us immediately at classmember@whafh.com or (800) 575-0735.
According to the lawsuit, 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.
On April 21, 2015, SeekingAlpha.com revealed that prior to the class period, Cadiz had been advised by the Bureau of Land Management that the project did not meet the relevant standard for right-of-way usage. On this news, the Company’s stock fell $1.05 per share to close at $8.65 per share on April 22, 2015.
If you purchased Cadiz securities during the Class Period, you may, no later than June 23, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com . All e-mail correspondence should make reference to the “Cadiz” Investigation.”
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
