Lifeway Foods ends lawsuit against Pure Culture Organics, rival says [Yahoo! Finance]
Lifeway Foods, Inc. (LWAY)
Last lifeway foods, inc. earnings: 5/18 05:59 pm
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Source: Yahoo! Finance
In April, Lifeway filed a lawsuit against Edward and Ludmilla Smolyansky claiming they stole proprietary information when they set up Pure Culture Organics. Edward and Ludmilla are the brother and mother of Lifeway CEO Julie Smolyansky. They also used to work for Lifeway. The suit alleged that “instead of competing fairly against their former colleagues and family member, [the] defendants decided to cheat by stealing the formula from Lifeway and trading on its long-established and credible good name”. Lifeway also claimed Edward Smolyansky broke a confidentiality clause in a separation agreement with the company when he left the business. In a statement issued yesterday (27 June), Pure Culture Organics said Lifeway had “chosen to dismiss its claims against PCO rather than proceed to a ruling on the merits”. Edward Smolyansky, Pure Culture Organics' president, added: “We are extremely pleased Lifeway abandoned its lawsuit, and PCO can pivot from having to focus on beating ba
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News
- Lifeway Foods® Announces Inclusion in Russell 2000® Index [Yahoo! Finance]Yahoo! Finance
- Lifeway Foods® Announces Inclusion in Russell 2000® IndexPR Newswire
- just the answer – Lifeway Foods CEO Julie Smolyansky [Yahoo! Finance]Yahoo! Finance
- Pure Culture Organics™? Announces Litigation and General Business Update, New Product Development [Yahoo! Finance]Yahoo! Finance
- Pure Culture Organics™? Announces Litigation and General Business Update, New Product DevelopmentPR Newswire
LWAY
Sec Filings
- 6/27/24 - Form 144
- 6/18/24 - Form 8-K
- 6/18/24 - Form 4
- LWAY's page on the SEC website