Beloved New England Grocery Chain’s Family Feud Trial Winds Down
Market Basket was rated the No. 2 grocery chain last month by marketing and customer data company dunnhumby.
Photographer: Derek Davis/Portland Portland Press Herald/Getty ImagesMarket Basket Inc. directors ousted ex-Chief Executive Officer Arthur T. Demoulas as a result of family strife rather than legitimate concerns about his management of the New England-based grocery chain, a lawyer for Demoulas argued at the end of a trial.
Demoulas was improperly fired on the whims of his three sisters – who own a controlling stake of Market Basket’s private stock – his lawyers told a Delaware judge Wednesday. The judge, without a jury, will decide whether the executive’s removal violated corporate-governance statutes. The sisters’ representatives on the board jettisoned Demoulas last year.