A lawsuit was filed on behalf of investors in Papa John’s International, Inc. (NASDAQ: PZZA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/11/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Papa John's International, Inc. (NASDAQ: PZZA), filed a lawsuit over alleged violations of Federal Securities Laws by Papa John's International, Inc. in connection with certain allegedly false and misleading statements.
Investors, who purchased shares of Papa John's International, Inc. (NASDAQ: PZZA), have certain options and for certain investors are short and strict deadlines running. Deadline: October 29, 2018. NASDAQ: PZZA investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
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. Later that day, Papa John's announced Schnatter's resignation as chairman of Papa John's board.
Then, on July 19, 2018, an article was published 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 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 July 26, 2018, it was reported that the founder and ousted former chairman of Papa John's International Inc on Thursday sued the pizzeria chain, complaining that the company had not provided adequate response to an earlier request for internal documents. The complaint comes after a request by John Schnatter and his attorneys access to company documents to inspect accusations of allegedly inappropriate behavior.
The plaintiff claims that between February 25, 2014 and July 19, 2018, the defendants made materially false and/or misleading statements and/or failed to disclose thatPapa John's executives, including John H. Schnatter, engaged in a pattern of sexual harassment and other inappropriate workplace conduct, that Papa John's Code of Ethics and Business Conduct was inadequate to prevent the foregoing misconduct, that the foregoing conduct would foreseeably have a negative impact on Papa John's business and operations, and expose Papa John's to reputational harm, heightened regulatory scrutiny, and legal liability, and that as a result, Papa John's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Papa John's International, Inc. (NASDAQ: PZZA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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