Robert: Papa John sues Papa John’s
John Schnatter, better known as “Papa John”, is not happy with how his pizza chain is being run. Schnatter, who owns about 30 percent of Papa John’s, is suing the company he founded for not producing documents related to his dismissal as CEO.
A company spokesperson said in a statement that it would not let Schnatter’s “numerous misstatements” distract the company and its customers.
“In my view, things are getting worse, not better. That is why the board needs to take action and shareholders may need to take action in regards to the board,” Schnatter says. Adding that the company’s performance has suffered since he was ousted as head honcho.
Schnatter’s lawyers say they want to inspect company documents “because of the unexplained and heavy-handed way in which the company has treated him (Schnatter) since the publication of a story that falsely accused him of using a racial slur.”