(Bloomberg) Legion Partners, a hedge fund that was seeded by the California State Teachers’ Retirement System, now controls more than 5 percent of the struggling pizza chain Papa John’s, according to a filing on Monday. The hedge fund says that Papa John’s stock price does not reflect its “intrinsic” value — a suggestion that investors see potential in the company despite being weighed down by controversy.
Hedge Fund Backed by California Teachers Makes Bet on Papa John’s
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