Lifeway Foods (LWAY) shareholder Edward Smolyansky, the company’s largest individual shareholder, issued a statement in response to the Lifeway Board’s recent press release, which Smolvansky claims contained “not only highly misleading statements but several patently false claims about the dissident nominees”. Highlights of the statement include: “The Board’s baseless personal attacks are an obvious attempt to distract from what truly matters: the company’s persistent governance failures and recent leadership misconduct under CEO Julie Smolyansky. Instead of addressing the issues affecting shareholder value today, the Board has chosen to publish distorted and false narratives to avoid accountability…The unhinged nature of these attacks reflects a CEO and her spouse acting out of desperation, terrified of losing the control they have abused for far too long. Confident leadership does not behave this way. Entrenched leadership does.” Smolyansky has formally contacted the Company to request a retraction and is presently evaluating legal options.
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