A selected summary of Southern California-related business litigation developments during the past week.

Stockholders Sue Occidental: Their suit against Occidental Petroleum Corp. alleges securities violations, including falsely stating that business was “thriving” during the past four months. The federal lawsuit names 16 Occidental officers as defendants and contends that the company wrongfully projected a positive financial outlook and promised that it “would continue to pay its annual dividend of $2.50 per share” between Sept. 18 and Jan. 14. The suit said that on Jan. 14 the defendants “shocked the investment community when they revealed that the company had cut its annual dividend . . . to only $1 per share” and announced plans for a major corporate restructuring. The suit said Occidental’s stock, which traded as high as $23 per share during the period, plummeted to $17.62 a share. The suit seeks compensatory damages. Occidental did not answer a request for comment on the lawsuit. (Case No. 91-0250. Filed Jan. 15).