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

Core Viewpoint - The Smolyanskys, who control approximately 28% of Lifeway Foods' shares, are calling for the resignation of CEO Julie Smolyansky following her lawsuit against Edward Smolyansky, the largest individual shareholder [1][2][3]. Group 1: Shareholder Actions - The Smolyanskys have requested Lifeway's Board to compel CEO Julie Smolyansky to withdraw her lawsuit against Edward Smolyansky [1]. - They believe the recent $2 million retention bonus awarded to Julie Smolyansky is a tactic to fund her legal battles against the Founding Shareholders [2]. - The Smolyanskys are expanding their investigation into the company's governance, which has seen significant turnover in key positions since 2018 [2]. Group 2: Legal and Financial Context - Edward Smolyansky criticized the company's increasing litigation, stating it reflects poor governance [3]. - Ludmila Smolyansky indicated that the$2 million payment to Julie was anticipated to lead to legal action against Edward [3]. - The Smolyanskys have expressed concerns about the board's obstruction of their ability to monetize their shares and contribute to charitable causes [3]. Group 3: Future Goals - The Smolyanskys aim to achieve new management and an independent slate of directors to improve the company's governance [4]. - They have highlighted their commitment to philanthropy, despite perceived interference from the current board [4].