NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Papa John’s International, Inc. (NasdaqGS: PZZA).
On July 10, 2018, public outrage over media reports that Schnatter had used a racial slur during a conference call in May 2018 resulted in his resignation as Chairman of the Board. Soon after, Schnatter publicly voiced his regret over the resignation and his intention to oppose efforts by the Board to further limit his involvement with the Company, leading to a battle between he and the Board (on which he still retains a seat) that is ongoing, with Schnatter recently filing suit against the Company seeking documents related to his removal and accusing the board of acting negligently or staging a possible “coup.” Further, on July 19, 2018, a report by Forbes highlighted “Papa John’s Toxic Culture,” stating that “Schnatter’s alleged behavior ranges from spying on his workers to sexually inappropriate conduct, which has resulted in at least two confidential settlements,” which it based on “interviews with 37 current and former Papa John’s employees—including numerous executives and board members.”
KSF’s investigation is focusing on whether Papa John’s officers and/or directors breached their fiduciary duties to Papa John’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Papa John’s shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-pzza/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
