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Wednesday, August 31, 2011

Gundlach Prepares to Make His Case

News summary by MFWire's editors

It's almost DoubleLine's [see profile] turn to start calling witnesses. According to a source familiar with the situation, Trust Company of the West (TCW [see profile]) is slated to call its final witness today in its courtroom battle with DoubleLine chief and former TCW chief investment officer Jeff Gundlach.

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

Meanwhile, yesterday TCW's Michael Conn described a summer 2009 meeting where Gundlach claimed that Pimco would "love to have" him replace superstar PM Bill Gross. Conn's testimony echoes similar claims made on Monday by consultant Roger Brossy.

Barron's, Pensions & Investments and the Wall Street Journal all covered yesterday's developments in the case.

Conn also said that, in the company lunchroom, Gundlach called ex-TCW CEO Robert "f------ useless" and CEO Marc Stern "useless." 

Edited by: Neil Anderson, Managing Editor

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