Domenick Vultaggio and John Ferolito spent four decades in business together, building one of the best-selling beverage brands in the country, Arizona iced tea. With its 23-ounce can and large 99-cent logo, Arizona and related brands earn sales of $1 billion annually and employ 1,000 people. Messrs. Vultaggio and Ferolito long ago became rich men.
Yet a recent reunion was hardly friendly. The venue was a wood-paneled courtroom on Feb. 29 in Mineola, Long Island, where a trial opened amid mutual allegations of greed and misconduct. The trial will test whether Mr. Ferolito breached his duty to help finance Beverage Marketing USA Inc., the company behind Arizona. The wider dispute is over whether to keep the company private or cash it out for the billions of dollars that Mr. Ferolito says companies like Nestlé S.A., The Coca-Cola Co. and Tata Global Beverages Ltd. have offered.
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