Ex-Grocery Chain CEO Loses Fight With Sisters Over Ouster (2)

Market Basket Inc. directors didn’t act improperly in ousting Chief Executive Officer Arthur T. Demoulas over concerns about his dictatorial management style, a judge concluded in a long-running family feud over control of the New England-based grocery chain.

Demoulas, known as “Artie T.” around the Boston area, repeatedly refused to keep company directors informed about his moves on behalf of the 95-store chain, keeping budgets and real estate deals secret, Delaware Chancery Court Judge Travis Laster said in a ruling Monday. Demoulas’ three sisters – who own 60% of the chain’s private shares — backed efforts to remove him.

Demoulas, ...