Lifeway Foods (LWAY) Dismisses Claims Against PCO

Litigation Update: In a victory for consumers, Pure Culture Organics™ (PCO) today announced that after a series of court rulings against Lifeway Foods (NASDAQ: LWAY), Lifeway Foods chose to dismiss its claims against PCO rather than proceed to a ruling on the merits.

Edward Smolyansky, PCO Co-founder and President, stated, "We are extremely pleased Lifeway abandoned its lawsuit, and PCO can pivot from having to focus on beating back frivolous lawsuits to building on the momentum of its new product developments like PCO Kids Kefir, as well as beginning to build our sales and marketing team."

Mr. Smolyansky is a former officer of Lifeway and its second largest shareholder. He added, "While I understand the personal motivations of my sister and CEO in pursuing these lawsuits for her personal interests, I do not understand why Lifeway Foods' Board of Directors approved her request to use company funds for this purpose."

Business and New Product Development:

In a move to delight young consumers and health-conscious parents alike, PCO is also excited to announce the development of Pure Culture Organics+ Kids Pouches with Collagen. These convenient, portable, and nutritious kefir pouches are designed specifically for children, providing a delicious and healthy snack option, with the addition of collagen peptides. Smolyansky stated "The addition of collagen peptides to probiotic beverages is a novel approach to functional ingredients that we feel have broader applications across a wider age spectrum than just adults. As more research is done, this should be a trend we should pay attention to."

Additionally, PCO is thrilled to announce the upcoming launch of its full line of kefirs, expanding beyond its original offerings to include an array of new flavors and formulations. This new lineup includes unique blends such as Wild Blueberry, Strawberries N' Cream, Vanilla Peach and more, catering to a diverse range of taste preferences. To promote this exciting new range, PCO has produced a vibrant and engaging video spot that highlights the rich, creamy texture and health benefits of PCO's kefir, emphasizing its products as a leading choice for consumers seeking both flavor and wellness in their dietary options.

Philanthropy
On May 31, 2024, The Ludmila and Edward Smolyansky Foundation, the philanthropic arm of Pure Culture Organics of Chicago, Illinois, announced it had made a $1 million commitment to Ann & Robert H. Lurie Children's Hospital of Chicago, specifically allocated to the Cardiology Program Fund and the Access for Every Child Fund.

"As someone who has witnessed firsthand the impact of healthcare expenses on families, I am honored to be able to contribute to the Ann & Robert H. Lurie Children's Hospital of Chicago and their mission of providing compassionate care to all," said Smolyansky.

For media inquiries or further information, please contact Jenna Strobel at [email protected].

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