If the accusations are true and you are at fault there is not much you can do about your situation. When you are dealing with board of directors and trustees there is certain information your employer may/should/could reveal to the trustees (both good and bad). In fact, I believe they are obligated to reveal such information about employees etc. when asked. For instance if you are caught stealing or embezzling money from said company, your employer is obligated to reveal such information to your trustees. If your boss / employer is making false accusations about you, than yes you have legal recourse.