Very few details are available yet.
However, the Orange County Register reports that 28-year old Mark Leones of Costa Mesa apparently lost control on a steep downhill and crashed in a solo bicycle collision.
The wreck occurred on Park Avenue in Laguna Beach shortly after 11 am; Leones reportedly died on route to the hospital. He was wearing a helmet at the time of the collision.
Leones is the 59th cyclist confirmed to have died as a result of a bicycling collision in Southern California this year, compared to 55 in each of the last two years on record. He is also the eighth fatality in Orange County since the first of the year, and the 6th to die in a solo collision throughout SoCal this year.
My deepest sympathy to his family and loved ones.
More information when it becomes available.
Update: Still very little information on this wreck. Laguna Beach Patch reports that Leones fell on the 1900 block of Park Avenue. Commenters on Slowtwitch.com described the location as a steep downhill with a nearly 20% grade where riders can easily reach very high speeds; combined with the sweeping curves in that section of roadway, that can present a very dangerous combination that demands a high level of skill from a rider.
If anyone has more information, please let me know.
Update: The Orange County Register offers a nice profile of Leones, explaining who he was, as well as how he died.