Lifeway Foods(US:LWAY) Prnewswireยท2025-02-03 23:33Core Viewpoint - The Smolyanskys, who control approximately 28% of Lifeway Foods' shares, are calling for the resignation of CEO Julie Smolyansky following her lawsuit against Edward Smolyansky, the largest individual shareholder [1][2][3]. Group 1: Shareholder Actions - The Smolyanskys have requested Lifeway's Board to compel CEO Julie Smolyansky to withdraw her lawsuit against Edward Smolyansky [1]. - They believe the recent $2 million retention bonus awarded to Julie Smolyansky is a tactic to fund her legal battles against the Founding Shareholders [2]. - The Smolyanskys are expanding their investigation into the company's governance, which has seen significant turnover in key positions since 2018 [2]. Group 2: Legal and Financial Context - Edward Smolyansky criticized the company's increasing litigation, stating it reflects poor governance [3]. - Ludmila Smolyansky indicated that the $2 million payment to Julie was anticipated to lead to legal action against Edward [3]. - The Smolyanskys have expressed concerns about the board's obstruction of their ability to monetize their shares and contribute to charitable causes [3]. Group 3: Future Goals - The Smolyanskys aim to achieve new management and an independent slate of directors to improve the company's governance [4]. - They have highlighted their commitment to philanthropy, despite perceived interference from the current board [4].