Cadiz Inc (NASDAQ:CDZI) Investor Investigation Over Potential Securities Laws Violations Announced

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Company Name(s): 
Cadiz
Affected Securities: 
NASDAQ: CDZI

April 24, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Cadiz Inc (NASDAQ:CDZI) shares over potential securities laws violations by Cadiz Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cadiz Inc (NASDAQ:CDZI) concerning whether a series of statements by Cadiz regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Cadiz Inc reported that its annual Total Revenue rose from $0.30 million in 2013 to $0.34 million in 2014 and that its respective Net Loss declined from $22.68 million to $18.88 million. Shares of Cadiz Inc (NASDAQ:CDZI) grew from $4.36 per share in August 2013 to as high as $13.31 per share in August 2014.

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.

Shares of Cadiz Inc (NASDAQ:CDZI) declined to as low as $8.06 per share on April 22, 2015.