Edward Smolyansky, a Lifeway Foods shareholder and CEO’s brother, accuses the kefir maker of deception after pushing for a board seat. He filed a proxy statement with the SEC to address governance failures and value destruction. Lifeway criticizes nominees for alleged track records and ethical failures, sparking a proxy battle. The conflict escalates with personal attacks and legal evaluations. The battle follows Lifeway’s rejection of takeover offers from Danone and recent shareholder conflict. An agreement with Danone included board refreshment and litigation stay. The companies dispute a breached shareholder agreement. The battle continues as Lifeway faces accusations of deception and entrenchment.

Read more at Yahoo Finance: Lifeway row rumbles on as kefir maker accused of “blatant deception”