Papa John's founder John Schnatter asks board to remove 'wolf-pack' provision from poison pill

CNBC -

CNBC—The so-called wolf pack provision is tucked inside a "poison pill" the board adopted in July to restrict Schnatter, who already owns about 30 percent of the company, from acquiring more equity in the company.

Papa John's still struggling after founder's departure. Papa John's continues to struggle with the fallout from its founder's noisy departure, but its CEO says a new ad campaign is helping turn things around. The pizza chain said Tuesday it lost $13 million in the third quarter, a 160 percent decline from the July-September period a year ago. ...