Delaware Court of Chancery Upholds CEO Termination Under the Business Judgment Rule in High-Profile Family Business Dispute

In DSM HoldCo, Inc. v. Demoulas, Vice Chancellor Laster issued a comprehensive post-trial opinion addressing fiduciary duties in the context of a closely held family business. The case involved Market Basket, a New England grocery chain generating approximately $8 billion in annual revenue, owned by siblings Arthur T. Demoulas (“Demoulas”) and his three sisters through a holding company structure.... By: Akin Gump Strauss Hauer & Feld LLP