Rosen Law Firm says buyers of Papa John’s shares during the proposed class period have until Nov. 2 to seek appointment as lead plaintiff in a suit over the chain’s turnaround.
The proposed class covers purchases from Aug. 7, 2025, through Aug. 5, 2026. The case, Hale v. Papa John’s International, Inc., was filed Sept. 2, 2026, in the U.S. District Court for the Western District of Kentucky. The docket lists William Hale as plaintiff and the company, Chief Executive Officer Todd Allan Penegor and former Chief Financial Officer Ravi Thanawala as defendants. EconoTimes previously covered the suit and lead-plaintiff deadline.
Rosen’s notice headline links losses above $100,000 to an opportunity to lead the case, but its body does not identify that sum as a minimum for membership in the proposed class. The firm said investors may remain eligible to share in a potential recovery even if they do not seek lead-plaintiff status. The court has not certified a class.
Rosen said the complaint alleges Papa John’s gave investors an inaccurate picture of a turnaround that was lagging as the company continued to lose market share and relied on more promotions. Those claims have not been established in court.
Papa John’s reported that North American comparable sales fell 8.3% year over year in the quarter ended June 28, 2026. It lowered its 2026 forecast for the measure to a 6% to 8% decline, from an earlier projection of a 2% to 4% decline, and cut its adjusted earnings before interest, taxes, depreciation and amortization outlook to $180 million to $190 million from $200 million to $210 million.
The company also suspended its quarterly dividend beginning in the third quarter, saying the move would give it more flexibility to fund its transformation. Papa John’s cited a softer consumer environment, lower order volumes and a highly promotional quick-service restaurant market as North American headwinds. Rosen lists Nov. 2 as the deadline to seek the lead-plaintiff appointment.
