Yet Another D&O Claim Arising out of Revelations of Sexual Misconduct

As I have noted in recent posts, the #MeToo movement has led to a number of D&O lawsuits as the accountability process has led not only to claims against the wrongdoers but also against the wrongdoers’ company and other company executives for turning a blind eye or failing to disclose the problems. On August 30, 2018, in the latest of these D&O claims arising out of revelations of sexual misconduct, investors filed a securities class action lawsuit against Papa John’s International, following news reports of sexual harassment at the company involving the company’s founder and former CEO and Chairman, John H. Schantter, as well as other executives at the company.   Background Schnatter is the founder of Papa John’s and he still owns 29% of the company’s shares. Schnatter’s decline began last November when he criticized the NFL’s handling of national anthem protests, as a result of which the company’s share price…

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