Papa John's embattled founder John Schnatter feels he was set up to lose by the company's board of directors. The co-chairs hired a consultant firm to ask him a series of racially sensitive questions, all of which were recorded through audio conferencing. The fallout from the incident was real, and the company's stock has taken a tumble, leading shareholders to demand Schnatter's head for their trouble and his insensitive remarks.

Not only did the board of directors vote to sever ties with the company founder but they started removing all media containing his face. The Papa John's logo is clearly etched in our minds as a cartoon depiction of John Schnatter aka Papa John, in a relaxed pose.

After giving the issue deliberate thought and legal counsel, Schnatter has decided to file a lawsuit against his former company. He is seeking all documentation filed by the company in the aftermath of his N-Word blunder, "because of the unexplained and heavy-handed way in which the company has treated him since the publication of a story that falsely accused him of using a racial slur."

As TMZ reported, John Schnatter has officially resigned as chairman of Papa John's International. He also renounced his seat on the University of Louisville's Board of Trustees, after yielding to internal pressure. As of right now, Schnatter is not seeking a big cash settlement, but rather all the documentation behind "the conspiracy to get him ousted."