In a joint statement from President Bob Hutt and Executive Director Jeff Matty of the Pennsylvania Thoroughbred Horsemen's Association (PTHA), the Bucks County litigation filed last fall by members of the board of directors was settled on terms that all parties believe to be in the best interest of the PTHA and its 2,500-plus membership, the organization said via a press release on Thursday.
On Oct. 22 of last year, TDN's T.D. Thornton reported that seven of the 11 directors of the PTHA had filed a legal response that denied sweeping allegations of corruption and cronyism that were made the prior month by Hutt and another board member. The directors specified for removal by Hutt included Matty, who was also under contract to work as the PTHA's executive director.
In the settlement agreement, the parties recognize that all directors have acted in good faith and in the best interest of the PTHA at all times and that no party should be removed based on the conduct raised in the litigation.
As a result of the settlement terms, the board will seek to implement a plan of action within the next 60 days by amending the bylaws. Changes will include mandatory board training at the beginning of each term, along with a more robust conflict of interest and mandatory disclosure policy.
The release goes on to state that neither the parties nor their counsel shall have any other comment about the litigation or the settlement.
Click here to access the settlement agreement.
Not a subscriber? Click here to sign up for the daily PDF or alerts.
