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Rating:Ex-TCW Prez: It was Obvious Gundlach Was an At-Will Employee Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 12, 2011

Ex-TCW Prez: It was Obvious Gundlach Was an At-Will Employee

News summary by MFWire's editors

Pensions & Investments' Randy Diamond has an article on what transpired during the trial between TCW and DoubleLine last Friday.

In his testimony, ex-TCW president William Sonneborn said: "It was obvious he (Gundlach) was an at-will employee."

According to the P&I article, Sonneborn told the court that he never completed a new employment contract in 2007 with Jeffrey Gundlach. Gundlach was ousted from the firm in December 2009 and shortly after, he launched his new firm, DoubleLine.

According to earlier testimony, Gundlach, Sonneborn and ex-TCW chairman Robert Beyer had a verbal agreement on a five-year contract for Gundlach in May 2007. The contract, however, was not signed by the parties. 

Edited by: Armie Margaret Lee


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