form8k_10-08.htm
Securities
and Exchange Commission
Washington,
D.C. 20549
Form
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported):
October
7, 2008
Cadiz
Inc.
(Exact
name of Registrant as specified in its charter)
Delaware
(State or
other jurisdiction of incorporation)
|
0-12114
|
77-0313235
|
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
550
South Hope Street, Suite 2850, Los Angeles, California
|
90071
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant's
telephone number, including area code: (213) 271-1600
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
8.01 Other Events
On
October 7, 2008, Judge Jane Johnson held a hearing with respect to the Company's
lawsuit against the Metropolitan Water District of Southern California
("Metropolitan") in order (as previously reported by the Company in a Form 8-K
dated September 3, 2008) to rule upon Metropolitan’s claim that it has immunity
under the California Government Code for any breach of its duties towards the
Company.
In the
hearing, Judge Johnson issued a tentative ruling granting Metropolitan’s motion
for judgment on the pleadings against the Company's claim for breach of
fiduciary duty. Citing to a very recent decision (July 31, 2008) by
the California Supreme Court (Miklosy v. Regents of the
University of California), the court indicated that it agreed with
Metropolitan’s argument that any breach of duty alleged in the Company’s
complaint was subject to statutory immunity, such that even if Metropolitan did
breach their duty in failing to accept the Right of Way or refusing to certify
the final environmental documents, Metropolitan, as a governmental entity,
would have no liability. The court continued the hearing until
October 30, 2008, at which time it will consider whether or not to grant
leave to amend the complaint. Following that ruling the Company will evaluate
all of its options.
The
ruling today pertained only to the Company’s claim for monetary damages from
Metropolitan and has no effect on the Company’s continued development of its Dry
Year Supply Project as detailed in the press release dated September 18th,
2008.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Cadiz
Inc.
|
By:
|
/s/ O'Donnell Iselin II
|
|
| |
O'Donnell
Iselin II |
|
| |
Chief
Financial Officer |
|
Dated: October
7, 2008