The company presented a reorganization plan with the bankruptcy filing.
The Texas beef company filed for Chapter 11 bankruptcy in January.
Steven Evans rejoined the company in 2016.
Schnatter will resign from board following the appointment of an independent director.
The lawsuit alleges harassment starting in 2015.
Bill Lovette will retire after eight years leading the company.
The transaction is expected to close in Q2.
A report from the Foreign Agricultural Service details how African Swine Fever is roiling the country’s pork industry.
The company is launching a new line of prime beef.
The Roth family will remain as owners.