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ALBANY, N.Y. (AP) The New York attorney general has settled a lawsuit against the Thoroughbred Retirement Foundation.

Under terms of the agreement, TRF will hire a new senior executive officer and add directors who are experts in standards of horse care. Current board chairman John Moore and director Diana Pikulski also will have to resign within a year of a new CEO being hired.

The lawsuit filed last year charged that TRF's board had neglected its duties by taking on more racehorses than it could afford to care for, resulting in the neglect and mistreatment of many animals.

The lawsuit also alleged that TRF improperly tapped the foundation's endowment to cover added expenses for the extra animals.

TRF is one of the nation's largest charitable organizations dedicated to caring for retired racehorses.