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Rating:TCW-Gundlach Divorce Catches the Justice Department's Eye Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, December 08, 2010

TCW-Gundlach Divorce Catches the Justice Department's Eye

News summary by MFWire's editors

The battle between TCW [see profile] and its ex-chief investment officer Jeff Gundlach has drawn the attention of the Justice Department, the Los Angeles Times reports.

To read the rest of the story of the fight between Gundlach and TCW, click here.

The pub points to an updated SEC filing on Monday made by DoubleLine Capital [see profile], which Gundlach started shortly after his ouster from TCW in December last year. The filing mentioned that the office of the U.S. Sttorney for the Southern District of New York have interviewed current and former employees of DoubleLine.

Here's an excerpt from the filing:
The Adviser has advised the Trust that employees and former employees of the Adviser have been interviewed by representatives of the Special Inspector General of the Troubled Asset Relief Program, and by the office of the United States Attorney for the Southern District of New York, in connection with the PPIP and in connection with the same allegations of misappropriation of proprietary information made by Trust Company of the West in its litigation against the Adviser. The Adviser understands that the inquiry stems at least in part from a federal grand jury inquiry. The Adviser has informed the Trust that it has cooperated with the inquiry and has voluntarily produced documents. The Trust and the Funds are not involved in any of these inquiries.


Meanwhile, an attorney with TCW's outside counsel confirmed to the LA Times that TCW received a federal criminal grand jury subpoena "with regard to the investigation of DoubleLine and its principals for trade-secret theft."

The attorney, Steve Madison, would not say when the TCW received the subpoena.

He told the pub that TCW is "cooperating fully with the investigation and has been informed that it is the victim in this particular matter" 

Edited by: Armie Margaret Lee


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