NEW YORK, Feb. 27, 2013 (GLOBE NEWSWIRE) -- Gardy & Notis, LLP, a national law firm advocating for shareholder rights, is investigating a potential securities fraud on behalf of investors of Papa John's International, Inc. (PZZA).
The investigation focuses on possible claims on behalf of purchasers of the securities of Papa John's concerning whether a series of statements regarding its financial operations were materially false and misleading at the time they were made.
On February 26, 2013, Papa John's announced that it plans to restate certain financial results following a review of accounting for previously existing joint venture arrangements. Papa John's reported that it would be restating financial reports for 2009, 2010, 2011 and the first three quarters of 2012. The restatements will impact net income for this time period. Trading of shares of Papa John's had to be halted after the Company said it needed to restate earnings from 2009 through most of last year. Shares have dropped nearly 10% since the Company announced it needed to restate its financial reports on February 26, 2013.
If you invested in Papa John's stock or options between May 5, 2009 and February 26, 2013 and would like to discuss your legal rights, call Mark Gardy or Jennifer Sarnelli at 212-905-0509 or e-mail mgardy@gardylaw.com or jsarnelli@gardylaw.com. Gardy & Notis, LLP also encourages anyone with information regarding Papa John's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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