Dive Brief:

Market Basket's board has placed CEO Arthur T. Demoulas on paid administrative leave while its executive committee investigates his recent conduct, including allegations that he was planning a work stoppage, according to a release the board issued Wednesday .

A spokesperson for Demoulas released a statement to local media saying that the investigation by Demoulas' three sisters and the company's board is "a farcical cover for a hostile takeover" of the company.

This marks the latest dramatic turn for the popular New England grocer, which faced a widely publicized revolt from shoppers in 2014 after the board ousted Demoulas. Demoulas eventually acquired the business for $1.6 billion.

Dive Insight:

Local reports indicate this investigation is the culmination of a long-

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