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Stock impact report

Edward Smolyansky Launches Campaign to Replace Board of Directors at Lifeway Foods (NASDAQ: LWAY) [Yahoo! Finance]

Lifeway Foods, Inc. (LWAY) 
Last lifeway foods, inc. earnings: 5/18 05:59 pm Check Earnings Report
US:NASDAQ Investor Relations: lifewaykefir.com/investor-relations
Company Research Source: Yahoo! Finance
stock, today launched a formal campaign to stop the further eroding of value taking place at Lifeway Foods, Inc (NASDAQ: LWAY ) by submitting and filing a Notice regarding Planned Nominees for election at the upcoming 2025 Annual Meeting. Lifeway Foods has reached an inflection point. The Board's continued deference to the CEO has raised serious governance concerns, and it must now demonstrate in court that its actions align with its fiduciary responsibilities to shareholders. The latest suit was brought by Danone, Lifeway's largest unaffiliated investor for over 25 years. Danone alleges that the directors breached their fiduciary duties when the Board granted 283,337 shares of stock to CEO Julie Smolyansky without obtaining Danone's consent per its 1999 shareholder agreement with Lifeway Foods. The grant was suspicious given the cash retention bonus paid to CEO Smolyansky of $2 million announced immediately before. All of this followed the rejection of an unsolicited offer from Show less Read more
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