| STATEMENT REGARDING
KLEINWOOD LITIGATION
The federal district court
has dismissed Kleinwood
Municipal Utility District’s
(“Kleinwood”) lawsuit
against Cypress Forest
Public Utility District
(“Cypress Forest”) and JP/Raveneaux
Partners, LP and Kera
Development, LP
(collectively, the
“Raveneaux Developers”). The
federal court’s dismissal of
Kleinwood’s suit resolved
all of the “federal” issues
in the lawsuit but allowed
Kleinwood to file any
“state” claims in state
court. Kleinwood has re-filed
their state law claims in a
Harris County District
Court. Cypress Forest
continues to believe that
Kleinwood’s lawsuit is
groundless and completely
without legal merit.
Based on the law, Cypress
Forest believes that
Kleinwood’s claims in state
court will also be
dismissed. Cypress Forest is
proceeding with its park
development plans with the
Raveneaux Developers and
will not be intimidated by
Kleinwood’s lawsuit.
Updated
4-6-2009 |