Market Basket Inc. directors ousted ex-Chief Executive Officer
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.
“The board engaged in ...