For Immediate Release
April 22, 2022
Michael S. Garrity, Director of Communications
firstname.lastname@example.org | (603) 931-9375
Thomas J. Donovan, Director of Charitable Trusts
Thomas.J.Donovan@doj.nh.gov | (603) 271-1288
Concord, NH – 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. 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.
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New Hampshire Department of Justice
33 Capitol Street | Concord, NH | 03301