Edward and ludmila smolyansky request lifeway foods inc. nasdaq (lway) ceo julie smolyansky immediately withdraws her lawsuit against edward smolyansky. reiterate and reaffirm singular goal amid ongoing activism battle

Summarizes recent filings and next steps, previews upcoming proxy schedule reaffirms and updates previously stated goal chicago , feb. 3, 2025 /prnewswire/ -- edward and ludmila smolyansky ("founding shareholders"), who together exercise sole voting control with respect to approximately 28% of the outstanding shares of common stock of lifeway foods, inc. ("lifeway" or the "company"), today requested that lifeway's board of directors force its ceo and chairperson, julie smolyansky to immediately withdraw her most recent lawsuit filed in cook county, il against the company's largest individual shareholder edward smolyansky. on december 23, 2024, lifeway's compensation committee, led by director jason scher, awarded what was described as a $2 million "retention bonus.
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