Pincay argued he lost more than $1 million in bad investments orchestrated by the Andrews in addition to paying the brothers' firm a half-million in management fees. McCarron said he lost almost three-quarters of a million dollars in bad investments and paid more than a third of a million dollars in management fees.
The United States Court of Appeals for the Ninth Circuit has denied an appeal by the former business managers of retired jockeys Laffit Pincay Jr. and Chris McCarron, leaving in place an $8-million award, including interest, given to the jockeys by a Los Angeles federal judge.In a decision filed June 30, the Court of Appeals in a 2-1 vote rejected the appeal by Vincent Andrews, Robert Andrews, and Vincent Andrews Management Corp., which was made "on statute of limitation grounds," according to the decision."Mr. Pincay and Mr. McCarron are delighted that this long, drawn-out litigation is over," said their attorney, Neil Papiano. A representative of Boies, Schiller & Flexner, the law firm that is representing the Andrews brothers, declined to comment on the decision. The long-running case was first ruled on in 1992, when Robert and Vincent Andrews were found guilty of breach of contract, intentional and negligent misrepresentation, and concealment and breach of fiduciary duty. That judgment was appealed, and eventually a larger award was given the jockeys based on interest and more punitive damages. William Matthew Byrne Jr., a Los Angelese federal judge, ordered the New York-based Vincent Andrews Management Corp. to pay Pincay and McCarron multi-million-dollar awards.