On This Day - What happened 26 July 2018 AD

On July 26, 2018, John Schnatter filed a lawsuit against Papa John's Pizza to give him access to the company's books and records after they fired him from the company after the teleconference call scandal. He describes the company's procedures as an "unexplained and heavy-handed way" to cut ties between him and the company that he founded. In addition to preventing him from accessing information, the corporation has also implemented a poison pill strategy in order to limit Schnatter's chances of buying back a majority stake in the company.

On July 26, Facebook became the first company to lose over $100 billion worth of market capitalization in one day, dropping from nearly $630 billion to $510 billion after disappointing sales reports.