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Wednesday, September 14, 2011

Gundlach and TCW Await a Verdict

News summary by MFWire's editors

The trial of Trust Company of the West (TCW [see profile]) versus Jeff Gundlach of DoubleLine [see profile] is almost over. Yesterday attorneys for both sides made their closing arguments to the jury of five women and seven men, and now the jury must decide.

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

Bloomberg, the Los Angeles Times, Pensions & Investments and Reuters all covered the lawyer's final remarks yesterday.

"They secretly stole," TCW attorney John Quinn reportedly said about Gundlach and his DoubleLine colleagues. "They were preparing to eliminate TCW as a competitor."

DoubleLine attorney Brad Brian countered that TCW's sudden firing of Gundlach was "premeditated."

"They shot him without warning," Brian reportedly said. "This was not a random act." 

Edited by: Neil Anderson, Managing Editor


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