Judge orders Papa John’s to hand over documents, text messages related to John Schnatter’s ouster

FAN Editor

After months in court, a Delaware judge ruled Tuesday that Papa John’s must turn over internal documents to its founder John Schnatter.

Schnatter, who owns a 30 percent stake in the company, stepped down as CEO in November 2017 and left his post as chariman in July after a series of public relation snafus crippled the company’s stock.

Schnatter argued in court that the company had documents that proved the company was mismanaged and that he had been improperly pushed out of his executive roles.

On Tuesday, a judge ordered the company’s directors to turn over documents and other communications, including text messages on personal devices, related to Schnatter’s firing. The order covered some messages between the directors and their lawyers, the ruling said.

Representatives for Schnatter and Papa John’s did not immediately respond to CNBC’s request for comment.

This ruling comes months after CNBC reported the pizza chain had begun to explore a possible sale.

Papa John’s shares have fallen more than 30 percent over the past year, but the stock is up nearly 7 percent since the start of 2019.

Free America Network Articles

Leave a Reply

Next Post

Utah city feels shutdown strain

Ogden, Utah — A welcome sign here says, “It pays to live in Ogden.” But that’s wishful thinking these days, considering how thousands of federal employees haven’t been paid in weeks because of the government shutdown.  Emalee Rausch is among those who haven’t gotten a paycheck. Now, she’s making food […]