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A hospital called MEETH wanted to sell its facility to Memorial Sloan Kettering Cancer Center and Downtown Group/Colony Capital because its revenue had gone down. The Attorney General of the State of New York opposed the sale because the law requires that the sale must be fair and reasonable and promote the purpose of the corporation. The court found that the sale did not meet these requirements because there were conflicts of interest and lack of transparency in the decision-making process. The Board of MEETH did not disclose all relevant information to the Board members and did not consider alternatives that would have preserved the hospital's mission. Manhattan Eye, Ear & Throat Hospital v. Spitzer (1999) New York Supreme Court 186 Misc. 2d 126, 715 N.Y.S.2d 575 Learn more about this case at https://www.lsd.law/briefs/view/manha... --- Law School Data has over 50,000 case briefs and a one-of-a-kind brief tool to instantly brief millions of US cases with just the name or case cite. Check out all of our case briefs: https://www.lsd.law/briefs Briefs come with built in LSDefine and DeepDive, which allow you to read as quickly or as deeply as you want. Each brief has a built in legal dictionary and recursive summaries that go into more and more detail, until you eventually hit the original case text. Subscribe for new videos every week: https://www.youtube.com/@LSData?sub_c...