NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by management of Papa John’s International, Inc. (NASDAQ:PZZA) resulting from allegations that management may have issued materially misleading business information to the investing public.
On July 10, 2018, after the market closed, and July 11, 2018, media outlets reported that Papa John’s founder, John Schnatter, used a racial slur during a conference call in May 2018. On this news, Papa John’s stock price fell $2.46 per share or 4.84% to close at $48.33 per share on July 11, 2018. Later that day, Papa John’s announced Schnatter’s resignation as chairman of Papa John’s board. Then, on July 19, 2018, Forbes published an article entitled “The Inside Story of Papa John’s Toxic Culture.” Citing “interviews with 37 current and former Papa John’s employees – including numerous executives and board members,” the Forbes article reported that “Schnatter’s alleged behavior ranges from spying on his workers to sexually inappropriate conduct, which has resulted in at least two confidential settlements.” On this news, Papa John’s stock price fell $2.60 or 4.85% to close at $51.00 per share on July 19, 2018.
If you currently own shares of Papa John’s, please visit the firm’s website at http://www.rosenlegal.com/cases-1379.html or more information. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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