LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Papa John's International, Inc. (“Papa John’s” or “the Company”) (NASDAQ: PZZA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The media widely reported on July 10, 2018, and July 11, 2018, that Papa John’s founder John Schnatter used a racial slur during a meeting in May 2018. The Company’s share price fell by almost 5% on July 11, 2018, based on that news. The same day, Papa John’s announced that Schnatter was resigning from the position of Chairman of Papa John’s board. Forbes published an article titled “The Inside Story of Papa John’s Toxic Culture,” on July 19, 2018, which reported, “Schnatter’s alleged behavior ranges from spying on his workers to sexually inappropriate conduct, which has resulted in at least two confidential settlements.” This article is allegedly based on the input from numerous current and former company employees, executives, and insiders. This information caused another drop of almost 5% for Papa John’s stock, harming investors.
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We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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