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Papa John’s founder can pursue lawsuit for corporate records
WILMINGTON, Del. – A Delaware judge has refused to dismiss a lawsuit in which the embattled founder of the Papa John’s pizza chain is seeking access to the company’s books and records.
John Schnatter sued Papa John’s International Inc. in July, claiming he needs the records to inform himself in order to fulfil his fiduciary duties, and to ensure that other directors are doing the same.
The company argued that Schnatter, who was pressured to resign as chairman in July, wants the records to further his own self-interests, and that much of the information he seeks will be available to him in a separate lawsuit he has filed alleging wrongdoing by other board members and CEO Steve Ritchie.
The judge overruled the company’s objections Thursday, clearing the way for an Oct. 1 trial.
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