Papa John's Tries To Oust The Disgraced Papa Himself

The Papa John’s board of directors announced they'd be adopting a “limited duration stockholder rights plan.” This is an attempt to prevent Papa “John” Schnatter from reasserting his control over his eponymous company. The company has done just about everything in its power to distance itself from him. Schnatter still has a seat on the board. He and “his affiliates and associates” also own 30 percent of the company. The goal of the new plan is to keep him and his buddies from acquiring a controlling stake, reports Deadspin.