Posted on 10/10/2015 11:22:22 PM PDT by nickcarraway
Lawsuit alleges that executives at firm Gross founded 40 years ago plotted to remove him in power struggle that preceded his departure last year
Billionaire bond investor Bill Gross has sued his former employer, Pimco, for more than $200m (£130m) for breach of contract and plotting to oust him from the firm he founded more than four decades ago.
The suit, filed on Thursday in Orange County, California, alleges that Pimco executives plotted to remove Gross in an internal power struggle that eventually led to him leaving the company in September 2014.
Pimco, which is based in Newport Beach, California, said the lawsuit has no merit and the firm will respond in court.
(Excerpt) Read more at theguardian.com ...
Bill Gross wanted to play it safe with the investment while the others wanted to to be more risky so they could get more gains, so the outed him for poor performance
I used to own PIMCO private mgt instruments
Sluggish
I didn’t know Gross was removed
That’s like removing Bill Paley from CBS
Didn’t Bill Gross pull out of bonds completely a few years back, and then jump right back into them after realizing he made a mistake?
Or, was that someone else?
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