Judge rules against former Market Basket CEO Arthur T. Demoulas

Judge rules against former Market Basket CEO Arthur T. Demoulas

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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.

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