PACIFIC GROVE, Calif.--(BUSINESS WIRE)--California American Water has filed a Motion for Summary Judgment asking the Monterey County Superior Court to enter Judgment in favor of California American Water and dismiss the Monterey Peninsula Water Management District’s (District) lawsuit seeking to take ownership of the company’s Monterey Peninsula water system through eminent domain. The motion argues that the District cannot meet fundamental legal requirements needed to proceed with its action,
Related Questions
How likely is the summary judgment motion to succeed and what is the expected timeline for resolution?
What potential financial impact could a forced eminent domain takeover have on California American Water’s revenue and earnings?
How might this legal dispute affect the company’s stock volatility and investor sentiment relative to other water utilities?