Lifeway Foods(US:LWAY) Prnewswireยท2025-07-29 13:00Core Viewpoint - Lifeway Foods' Board, led by CEO Julie Smolyansky, is accused of disenfranchising shareholders and failing to provide a credible plan for shareholder value, particularly after rejecting Danone's acquisition offer which represented a 72% premium over the three-month volume-weighted average price [1][4]. Group 1: Shareholder Concerns - Edward and Ludmila Smolyansky, who control approximately 26% of Lifeway's shares, initiated a consent solicitation process to replace the current Board due to its perceived failure to act in the best interests of shareholders [1][9]. - The Board's actions, including the rejection of Danone's offer and the delay of the 2025 annual meeting, have raised concerns about accountability and transparency [2][6]. Group 2: Board's Defense Maneuvers - Lifeway's Board has employed various defense strategies, such as adopting a poison pill and refusing to establish an independent committee to evaluate Danone's offers, which are seen as attempts to undermine shareholder rights [6]. - The Lead Independent Director, Jason Scher, sold most of his shares, raising questions about the Board's commitment to shareholder value, especially in light of the rejected offer [2][6]. Group 3: Call to Action - The Smolyanskys encourage shareholders to participate in the consent solicitation process to hold the Board accountable and to consider the value-maximizing offer from Danone [4][5]. - Shareholders are urged to submit their consent as soon as possible to support the proposed changes in leadership [5][7].