On July 26, 2018, Schnatter filed a lawsuit in Delaware against Papa John's Pizza to give him access to the company's books and records after they did not allow him to access the company's business records following his resignation in the wake of the teleconference call scandal. He described 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 also implemented a "poison pill" strategy in order to limit Schnatter's chances of buying back a majority stake in the company. Schnatter also filed a lawsuit against the company in Kentucky in a dispute over property ownership. In January 2019, a judge ordered the company to give Schnatter access to its records relating to his ouster. A settlement of the lawsuits was announced on March 5, 2019. Under the agreement, the company agreed to share all of its records with Schnatter and agreed to remove a part of its "poison pill" plan that restricted Schnatter's communication with other shareholders, and Schnatter agreed that he would not seek to stay on the company's board of directors after his current term expired on April 30, 2019, and that if a mutually agreeable independent director was chosen to replace him, he would step down before the end of his term. Schnatter retained the right to sue if the records show wrongdoing by the company. The company also agreed to remove a requirement that the activist hedge fund Starboard Value, which owns about 10% of the company, must vote in favor of the incumbent board. As of March 2019, Schnatter remained the owner of 31 percent of the company's shares, but by May 23, he had sold 3.8 million shares and reduced his stake in the company to 19%. By November 2019, his stake was under 17%.