Smolyansky responds to Lifeway Foods amended filing, disclosures

Edward Smolyansky, who together with Ludmila Smolyansky, beneficially own approximately 27% of outstanding shares of Lifeway Foods (LWAY) common stock, issued a statement in response to Lifeway’s amended 2024 Annual Report and its latest disclosures on executive and director compensation. “The filing of the amended 2024 Annual Report, and other steps taken recently by the Company, suggest to me that the Board is planning to delay the 2025 Annual Meeting of Shareholders past the June 2, 2025, date provided for in the bylaws,” said Mr. Smolyansky. “I am prepared to make my case to our fellow shareholders – at the annual meeting or otherwise – and it is disappointing that the Board is not prepared to do the same.” Smolyansky added: “While the Board continues to stall and evade accountability, Edward and Ludmila Smolyansky are determined to continue pressing Lifeway to immediately set a date for the 2025 Annual Meeting and proceed with director elections as required.”