Mar. 1, 2013 (Shareholders Foundation) -- An investigation on behalf of current long-term investors of Papa John's Int'l, Inc. (NASDAQ:PZZA) shares over potential breaches of fiduciary duties by certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm concerns whether certain Papa John's officers and directors breached their fiduciary duties and caused damage to the company. and its shareholders by potentially failing to implement adequate internal controls and possibly misstating the company's financial results.

Papa John's Int'l, Inc. reported that its Total Revenue rose from over $1.07 billion for the 12 months period that ended on Dec. 27, 2009 to over $1.21 billion for the 12 months period that ended on Dec. 25, 2011.

NASDAQ:PZZA shares grew from as low as $16.58 per share in January 2009 to almost $57 in January 2013.

Then Feb. 26, 2013, Papa John's Int'l, Inc. disclosed in a filing with the Securities and Exchange Commission (SEC) that the Company will restate its financial results for the 2009, 2010 and 2011 fiscal years as well as the first, second and third quarters of 2012.

Shares of Papa John's Int'l, Inc. (NASDAQ:PZZA) declined from $57.32 per share on Feb. 26, 2013 to as low as $50.63 per share on Feb. 27, 2013.