Overview
- Market Basket’s board fired CEO Arthur T. Demoulas in September and took the dispute to Delaware Chancery Court, with a ruling not expected until 2026 after a mid-December trial.
- The board accuses him of hoarding financial information and plotting a walkout reminiscent of 2014, while he denies the claim, countersues for reinstatement, and says the board is doing his sisters’ bidding.
- A Massachusetts probate judge ruled on Feb. 25 that sister Frances should serve as co‑trustee of the T. A.D. Family Trust and ordered Arthur to cover her legal costs, a decision he is appealing.
- The trust, created for the four siblings’ 14 children and holding about 10 percent of Market Basket, is central to disputes that surfaced in court over whether profits go to beneficiaries directly or stay in the trust.
- Documents and testimony detailed a $230 million shareholder distribution authorized in 2021 and board efforts to drop the word “extraordinary” from minutes, as well as May suspensions of Arthur and his two children and a brewing succession fight involving Frances’s son.