The Strickman Filter
In 1967 chemist Robert Strickman approached Columbia and told them he'd invented a filter that would greatly reduce the amount of tar and nicotine inhaled by cigarette users. With both the University and its Medical Center running a deficit, the administration jumped at the chance to share the patent of an invention that could reap millions. The agreement between Columbia and Strickman, with Columbia endorsing claims of the filter's effectiveness was publicly announced and everyone was thrilled. Until the folks at the Medical Center noticed that the filter wasn't really working in their tests.
There was hell to pay and the University took a major black eye in the process, during a time of student restlessness and growing distrust of the establishment. It may have been a contributing factor to the 1968 Protests.