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Rating:Lingerie Heats Up the Fight Between Gundlach and TCW Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, August 04, 2011

Lingerie Heats Up the Fight Between Gundlach and TCW

News summary by MFWire's editors

Even underwear is involved in the legal battle between Jeff Gundlach and TCW [see profile]. Bloomberg and Reuters report that yesterday a Gundlach subordinate testified that she snuck a hard drive out of TCW in her bra on the same day that TCW fired Gundlach [see transcript].

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

Bloomberg TV has a video clip of the testimony of the woman, Dolores Talamentes.

Talamentes said she then gave the hard drive to outgoing managing director Cris Santa Ana, who joined Gundlach's new firm, DoubleLine Capital [see profile], shortly thereafter. TCW claims the hard drive contained proprietary information Gundlach and his team used to start DoubleLine, while the DoubleLine crew counters that they never used the information.

On Monday Jeffrey Mayberry (now with DoubleLine) testified that he, too, took a flash drive full of information with him when he left TCW [see MFWire.com, 8/2/2011].

TCW fired Gundlach, its chief investment officer, in December 2009 while unveiling a deal to buy rival MetWest to fill Gundlach's shoes. Gundlach and his colleagues started DoubleLine shortly thereafter. TCW sued Gundlach in January for allegedly swiping trade secrets, and Gundlach counter-sued by claiming TCW fired his team to avoid paying hundreds of millions of dollars in fees. The combined trial for both the initial TCW suit and the DoubleLine cross-claim started last week in Los Angeles. 

Edited by: Neil Anderson, Managing Editor

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