NEW YORK, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a
class action lawsuit has been filed against Papa John’s International, Inc. (“Papa John” or the “Company”) (NASDAQ: PZZA) and
certain of its officers, on behalf of shareholders who purchased or otherwise acquired Papa John securities between February 25,
2014, through July 19, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by
visiting the firm’s site: http://www.bgandg.com/pzza.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the
Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or
failed to disclose that: (1) Papa John’s executives, including Defendant John H. Schnatter (“Schnatter”), had engaged in a pattern
of sexual harassment and other inappropriate workplace conduct at the Company; (2) Papa John’s Code of Ethics and Business Conduct
was inadequate to prevent the foregoing misconduct; (3) 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 (4) as a result, Papa John’s public statements were materially false and misleading at all relevant times.
On July 10, 2018, post-market, and July 11, 2018, media outlets reported that Papa John’s founder, Defendant Schnatter, had used
a racial slur during a conference call in May 2018. Following this news, Papa John’s stock price fell $2.46 per share, or
4.84%, to close at $48.33 per share on July 11, 2018. Later that day, Papa John’s announced Schnatter’s resignation as
chairman of Papa John’s board.
Then, on July 19, 2018, Forbes published an article 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 Forbes 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.”
The Forbes article further reported that “[t]o protect himself, Schnatter . . . installed loyalists in the
firm’s top ranks, who enabled its ‘bro’ culture.” Following this news, Papa John’s stock price fell $2.60 per share, or 4.85%, to
close at $51.00 per share on July 19, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site:
http://www.bgandg.com/pzza or you may contact Peretz Bronstein, Esq. or his Investor Relations
Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Papa John you have until
October 29, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't
require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class
action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
