Health & Fitness
AG: LRGHealthcare Trustees Made 'Misjudgments'
Lakes Region General Hospital and the LRGHealthcare did not breach its fiduciary duties.
Attorney General John M. Formella announces the issuance of the Attorney General’s report regarding the governance of LRGHealthcare, which initiated bankruptcy proceedings in October 2020 following several years of poor financial results.
The report concludes that LRGHealthcare’s trustees made misjudgments and were too deferential to the recommendations and conclusions of the long-term executives.
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The report concludes that they did not breach their fiduciary duties. The report also offers direction for the officers and trustees of other large charitable organizations so that they can avoid a similar financial collapse.
Copies of the report can be accessed here: report-lrch-governance.pdf (nh.gov)
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This story was originally published by InDepth NH.
