![]() ![]() ![]() The judge dismisses the part of lawsuit filed against the board of the directors. The family also files a lawsuit against the board of directors for not taking action against the trustees “despite ample evidence that the trustees knowingly violated” the rules.ģ June 2013: After years of back and forth, Judge Rya W Zobel authorizes Arthur S’s side of the family to “ seek full recovery of the plan for its $46m loss”. January 2009: After the board of directors votes five-to-two to make restorative payments to the plan, Demoulas Super Markets Inc pays $46m into the profit-sharing plan to replace the money lost on the Fannie and Freddie investments.Īpril 2009: Arthur S Demoulas’ side of the family files a lawsuit about the Fannie and Freddie investments, alleging that Arthur T Demoulas, current Market Basket CEO, and the two trustees of the plan, William Marsden and D Harold Sullivan, “knowingly caused the plan to be in violation of the plan’s investment policy”. 5 August 2008: Trustees report the above-mentioned investments to the board of directors. ![]()
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