The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Wednesday, October 08, 2014|
Gross Is Being Sued ... And It Has Nothing to Do With Pimco
Bill Gross is facing a lawsuit, one that has no apparent connection to his old haunt, Pimco [profile], or his recent jump to Janus [profile].
Nathan Vardi of Forbes reports that on Friday Donray Graves -- business partner of billionaire Gross' son, Nicholas, drummer in the band Open Air Stereo -- filed the lawsuit in Los Angeles on Friday. Ethan Brown Law is representing Graves, who is accusing Bill and Nicholas Gross of "breach of fiduciary duty, breach of contract, and promissory fraud, among other complaints of purported unlawful conduct."
The dispute involves G Squared Media Holdings, which Graves and Nicholas Gross each hold 50 percent stakes in, and which Bill Gross invested $3 million in.
Nicholas sued Graves last month to dissolve G Squared, warning that "as a result of Graves's conduct, any remaining assets of G-Squared are at risk due to lack of proper administration." Now Graves is claiming that Bill pressured to Nicholas end the partnership. Graves' complaint details some of his and Nicholas' work together, including their appearance on the BRAVO TV show "Married to Medicine."
Printed from: MFWire.com/story.asp?s=49845
Copyright 2014, InvestmentWires, Inc.
All Rights Reserved