NY Takes Reins Of Troubled Horse Racing Body

Law360, New York (May 22, 2012, 2:40 PM EDT) -- Gov. Andrew Cuomo said Tuesday the state will take control over the $2 billion New York Racing Association, which recently fired its CEO and general counsel amid allegations of illegally overcharging customers, less than three weeks before one the biggest thoroughbred races in recent memory.

Cuomo said the state will control the NYRA's board for three years and one of its main tasks will be to find a new chief executive and general counsel to permanently replace fired CEO Charles Hayward and general counsel Patrick Kehoe....
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