Judge rules against former Market Basket CEO Arthur T. Demoulas
Key Points:
- A judge ruled against former Market Basket CEO Arthur T. Demoulas, upholding his removal as president as valid.
- Demoulas had sought reinstatement as CEO, claiming his firing was illegal.
- The Delaware court found that the board of directors acted in good faith when suspending and firing him.
- Market Basket and Demoulas have not yet provided public comments on the ruling.