Papa John's settles with founder John Schnatter (PZZA)

Papa John's and its founder, John Schnatter, have reached a settlement.
As part of the deal, Schnatter will drop his lawsuit against the pizza chain and resign as an independent director.
He is expected to help find a replacement.
Watch Papa John's trade live.
The pizza chain Papa John's and its founder, John Schnatter, have reached an agreement that will remove Schnatter from the company's board of directors.
Under the agreement, Schnatter, who owns about 30% of the pizza chain, will resign as