The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Santa Ana Says Gundlach Asked for TCW Data Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 05, 2011

Santa Ana Says Gundlach Asked for TCW Data

News summary by MFWire's editors

Jeff Gundlach asked for downloads of TCW [see profile] data and called his bosses "totally frickin' worthless" months before they fired him in December 2009, according to ex-TCW managing director Cris Santa Ana. That's the latest testimony in the ongoing courtroom struggle between Gundlach and TCW [see transcript].

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

Bloomberg and Reuters reported on Santa Ana's testimony yesterday.

Santa Ana, now chief risk officer for Gundlach's DoubleLine Capital [see profile], told jurors that he and the rest of DoubleLine's team "needed to be prepared" because they were afraid TCW was going to fire them. Yet Gundlach and his colleagues insist that they did not use any proprietary TCW data to start DoubleLine. Santa Ana said that DoubleLine's and TCW's mortgage bond analyzing systems have a lot in common because they were built by some of the same people.

"They should be similar," Santa Ana said yesterday.

Also yesterday, Michael Reilly, equities chief investment officer at TCW, testified that Gundlach was acting "angrier, more vitriolic" in the months before TCW fired him as chief investment officer.

Gundlach and his team started DoubleLine in December 2009, weeks after TCW fired him. TCW filed suit in January 2010, accusing Gundlach and others of stealing trade secrets. Gundlach fired back, claiming that TCW dumped him to avoid paying hundreds of millions of dollars in fees to Gundlach's team. The trial for both TCW's claims and Gundlach's cross-claim started last week in Los Angeles, the hometown of both TCW and DoubleLine. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use