It's been a rough year for Papa John's founder John Schnatter and it may have just gotten worse. Shares of the company tanked today after a report surfaced alleging that Schnatter used a racially charged slur during a conference call in May.
Forbes is reporting Schnatter was on a call with a marketing agency when he tried to downplay comments he made about the National Football League and allegedly said “Colonel Sanders called blacks n-----s." Schnatter was saying that Sanders never faced a backlash.
Schnatter earned criticism in November for critical statements he made about the NFL that ultimately caused the league to remove Papa John's as an official sponsor." Papa John’s condemns racism and any insensitive language, no matter the situation or setting," a company spokesman told CNBC.