07/07/2005 11:00PM

Ruling favors McCarron, Pincay


Retired Hall of Fame jockeys Chris McCarron and Laffit Pincay, Jr. won a major court decision on June 30 when the United States Court of Appeals for the 9th Circuit denied an appeal by their former business managers to overturn a decision awarding the jockeys $8 million.

By a 2-1 vote, the court rejected an appeal by brothers Robert and Vincent Andrews of the Andrew Management Corporation, which invested money on behalf of the jockeys in the 1970's and 1980's.

McCarron and Pincay were awarded $8 million by a Los Angeles federal judge in late 2003 after suing Andrews Management. The riders alleged that money they invested with Andrews Management was improperly invested and that they had been charged excessive commissions.

Pincay invested more than $1.7 million with Andrews Management, while McCarron invested more than $750,000. Both riders quit making investments with that company in the late 1980's.

The June 30 ruling is the latest in a long-running case. In 1992, Andrews Management was found guilty of several infractions against McCarron and Pincay, including breach of contract.

McCarron retired in 2002 and later worked as an executive at Santa Anita. Pincay retired in 2003 after suffering neck injuries in an accident at Santa Anita.