PurchasePro Leaps as CEO Quits

PurchasePro (PPRO) was up 21% in late morning on news that CEO Charles "Junior" Johnson, Jr. left the company. Board member Todd Bradley was named to succeed Johnson as chairman.

The B2B e-commerce company has been plagued lately by questions regarding its revenue recognition methods and a lawsuit claiming Johnson stole its business model.

Last week, PurchasePro also missed an SEC deadline for its quarterly report.