MutualFundWire.com: Gross v. Pimco: A Nine-Figure Fight Begins

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Thursday, October 8, 2015

Gross v. Pimco: A Nine-Figure Fight Begins

Using terms like "lust for power.." and "cabal", investing legend Bill Gross launched his offensive against his former employer while seeking $200 million in damages.

William Gross
Janus Capital Group
Lead Portfolio Manager

The famous bond king is suing Pimco and parent company Allianz SE claiming that he was wrongfully dethroned as the fund giant’s CEO by a "cabal" of managing directors.

Gross jumped ship the California-based fund firm little more than a year ago to go to Janus, where he's been ever since.

In a note explaining his departure, Gross wrote that he was leaving in order to have the chance to work at a smaller firm but that he was "fortunate to have a great run at PIMCO."

MFWire has obtained a copy of the complaint, which you can read here.

A representative from Janus said that this was a personal matter for Gross and that the folks at Janus had no comment. A representative from Pimco could not be reached for comment.

A statement from Patty Glaser, lead attorney for Bill Gross, said that "all proceeds from the lawsuit will go to charity, including the Pimco Foundation."

Printed from: MFWire.com/story.asp?s=52751

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