26 Mar Cadiz Inc. Issues Statement on Unusual Trading Activity Related to its Securities
(Los Angeles, California) – Cadiz Inc. (“the Company”, NASDAQ:CDZI) issued the following statement regarding unusual trading in its common stock in the days preceding the March 23, 2021 filing of lawsuits by organizations, including the Center for Biological Diversity, Sierra Club, and National Parks Conservation Association et al., against the U.S. Bureau of Land Management relating to right-of-way permits issued to the Company, which authorize the conveyance of water in an idle 220-mile steel pipeline that travels across working class communities in California’s San Bernardino and Kern Counties.
Scott Slater, Cadiz CEO & President stated: “While Cadiz does not normally comment on market activity, the Company is concerned by the appearance of unusual trading in the days leading up to the filing of two lawsuits by Cadiz Water Project opponents on March 23rd. We are working with third parties to evaluate this activity and will notify shareholders of any developments.
“Our business plan and our mission to make water supply, storage and infrastructure available to California communities in need remains on track and undeterred.”