Edward and Ludmila Smolyansky, who control approximately 28% of Lifeway Foods' outstanding shares, formally requested on February 4, 2025, that the Board of Directors compel CEO Julie Smolyansky to immediately withdraw her lawsuit against Edward Smolyansky. They allege the lawsuit is funded by a $2 million 'retention bonus' awarded to the CEO.
The founding shareholders claim that directors Jason Scher and Pol Sikar, due to decades-old family ties to Julie Smolyansky and her spouse Jason Burdeen, have deep and conflicting personal motives. Ludmila Smolyansky stated she began selling shares to defend Edward, citing Lifeway's legal counsel's refusal to provide adequate paperwork for Edward to monetize his holdings.
They intend to expand their investigation into the company's inner workings, which began in 2019 following the departure of two CFOs in 2018. The Smolyanskys reiterate their goal of achieving fresh new management and a new independent slate of Directors.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.