It often takes many people to help run a successful business. Typically, companies create boards with shareholders that can have at least some say in how certain operations within the company take place. However, it is not uncommon for shareholder disputes to take place when one or more shareholders become disgruntled with how the business is running.
Ohio residents may be interested in a lawsuit involving Papa John’s pizza. Reports indicated that the pizza chain’s founder and largest shareholder John Schnatter has filed a lawsuit against the company, including the board of directors and the CEO. Schnatter was previously the chairman of the board, but after making a controversial statement, he removed himself from the position. However, he now wants reinstated and claims that his statement was taken out of context.
Details regarding the lawsuit itself were few as the exact claim he has filed remains sealed. It was reported that he believes that the board and CEO are causing damage to the company due to breaches of loyalty and care. The company issued a statement indicating that Schnatter is making “reckless allegations” in efforts to regain his position in the company.
Shareholder disputes can have immense impacts on companies, and it is important that parties facing disputes understand their options for addressing the situations. People associated with Ohio businesses may want to consult with their legal counsel regarding the best available avenues to handling any conflict that may arise with their companies. Knowing the possible courses of action could help them move forward confidently and effectively.