The incident was reported around 7:30 p.m. at a Metro bus station near the intersection of Reseda Boulevard and West Oxnard Street.
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According to police, the two men were found in the street with gunshot wounds. Both were rushed to the hospital, where one of the men was pronounced dead.
The other man underwent surgery Friday night and remains hospitalized, police said.
It's unclear what led up to the shooting and information on a suspect or suspects was not immediately available.
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This is a developing story. This article will continue to be updated as more information becomes available.