Print Edition - 2018-09-02  |  Money Digest

Founder sues Papa John’s board


Sep 2, 2018-

The founder and largest shareholder of Papa John’s International Inc sued the pizza chain’s board and chief executive late on Thursday to stop what he described as “the irreparable harm” they are causing the company, according to a court filing. John Schnatter has been in an escalating battle with the company’s board since he stepped down as chairman in July after he apologised for using a racial slur during a media training call. Schnatter remains a member of the board and holds 30 percent of the company’s shares. Schnatter is suing the board and CEO Steve Ritchie “to stop the irreparable harm those individuals are causing due to their repeated, and ongoing, breaches of the duties of loyalty and care they owe to the company.” (REUTERS)

Published: 02-09-2018 09:11

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