FRESNO, Calif.--(BUSINESS WIRE)--Tejon Ranch Co. (NYSE:TRC) announces that Federal Court Judge Oliver Wanger of the Eastern District of California yesterday dismissed a lawsuit that claimed, among other things, that the U.S. Department of Interior had failed to recognize the legitimacy of the Kawaiisu Tribe of Tejon and its claim to ownership of the 270,000-acre Tejon Ranch in California.
The lawsuit was originally filed in November 2009 after the County of Kern approved development of Tejon Mountain Village, a joint venture of Tejon Ranch Co., the landowner, and DMB Associates, Inc. The court had given attorneys for plaintiff David Laughing Horse Robinson several opportunities to amend and revise the complaint before issuing its ruling.
“We are pleased with the court’s decision,” said Robert A. Stine, President and CEO of Tejon Ranch Co. “We believed from the very beginning that the claim was without merit.”
“Tejon Ranch has a remarkable legacy and Tejon Mountain Village will offer people the opportunity to experience that legacy for themselves,” said Eneas Kane, President and CEO of DMB Associates, Inc. “We are very proud of the hard work and planning that has gone into Tejon Mountain Village, which is destined to become a remarkable mountain resort community.”
Tejon Mountain Village will play an important role in the historic Tejon Ranch Conservation and Land Use Agreement, negotiated by Tejon Ranch Co. and DMB Associates with the Natural Resources Defense Council, the Sierra Club, the Planning and Conservation League, the Endangered Habitats League and Audubon California, in which the Ranch agreed to conserve 90% of its land and establish the independent Tejon Ranch Conservancy. The sale of most types of property within Tejon Mountain Village will generate an on-going funding stream for the operation and activities of the Conservancy.
About Tejon Mountain Village
As a part of the Tejon Ranch Vision of conservation, continued ranching, and limited development, Tejon Ranch and DMB Associates are carefully planning the development of Tejon Mountain Village. With approximately 80 percent of its land preserved as natural open space, Tejon Mountain Village will be a remarkable, environmentally sensitive mountain resort community. www.TejonMountainVillage.com.
About DMB Associates, Inc.
DMB Associates, Inc. is Tejon Ranch Co.’s partner in Tejon Mountain Village. DMB is one of the most respected real estate companies in the West, known for creating sustainable communities that thoughtfully and responsibly address the environment. DMB's business practices are predicated on creating truly great places and on forging lasting, mutually beneficial partnerships with stakeholders, municipalities, landowners and communities. More information about DMB Associates, Inc. can be found online at www.dmbinc.com.
About Tejon Ranch Co.
Tejon Ranch Co. is listed on the New York Stock Exchange under the symbol TRC. Tejon Ranch is a diversified real estate development and agribusiness company, whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. More information about Tejon Ranch Co. can be found online at www.tejonranch.com.