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HomeTCW vs Jeff Gundlach, et al: Getting Ugly Early
Posted by Larry Doyle on January 7, 2010 8:06 PM |
Jeff Gundlach
It is not often that the top bond manager on Wall Street gets fired. What prompted the unceremonious departure of Jeff Gundlach from Trust Company of the West?
Stories of financial intrigue are always riveting. The real deal of authentic Wall Street financial conspiracies and resulting legal actions are much more riveting. Did Jeff Gundlach and other defendants steal a wealth of TCW proprietary information prior to being shown the door? Did Gundlach, et al commit fraud and a breach of fiduciary duty while at TCW? Did TCW plan to confiscate revenue generated by Gundlach and team?
What are we to make of TCW management’s allegation that they found inappropriate contraband in Gundlach’s office the day he was fired. What sort of contraband? Marijuana, drug paraphernalia, a collection of sexual devices, and hardcore pornographic magazines.
Wow. The gloves have come off very early. Here’s a link (hat tip to Deal Breaker) to the complaint filed in Superior Court of the State of California County of Los Angeles: Trust Company of the West vs Jeff Gundlach et al.
Real life is better than the movies. Get the large popcorn while reviewing the legal brief. This complaint is clearly the most interesting, high profile personnel case on Wall Street in a long time. ~ LD
Yet another pretty sad episode, but you are correct in that it is newsworthy. The complaint speaks to evidence of “recent use” of the aforementioned paraphernalia…I can hear echoes of Jackie Chiles railing out loud, “That’s lewd, lascivious, salacious, outrageous”…when life imitates art, you have to smile. Character assassination vs legitimate legal beef – who indeed are a jury of Jeff’s peers? There’s no comedy, though, in any illegal breach of fiduciary responsibility and theft of corporate property …does institutional money blink as to personal peccadilloes if the performance is there…lots of angles to be played out here
This seems to have most if not all of the elements of a real thriller. Sex, drugs, money…
[...] We have not heard much lately from the former high profile money maven, Jeff Gundlach. You may recall that Gundlach departed the LA-based Trust Company of the West late last year under very questionable circumstances, leading to an ugly lawsuit. I highlighted as much this past January in writing, “TCW vs Gundlach, et al: Getting Ugly Early.” [...]