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Rating:TCW and DoubleLine Will Fight More Next Month Not Rated 2.0 Email Routing List Email & Route  Print Print
Tuesday, November 22, 2011

TCW and DoubleLine Will Fight More Next Month

News summary by MFWire's editors

The courtroom fight between Trust Company of the West (TCW [see profile]) and Jeff Gundlach's DoubleLine Capital [see profile] will continue next month. Yesterday the two sides again appeared before a judge in Los Angeles to debate how much money, if any, DoubleLine owes TCW over the stolen trade secrets claim. The judge said he'd rule on the issue by the end of January.

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

A source close to the trial confirmed that the next hearing, again on the subject of TCW's claim to royalties, will be held on December 12 at 8:30am.

Meanwhile, Bloomberg's Edvard Pettersson reported on the hearing yesterday. On October 25 an expert witness for TCW claimed that DoubleLine owes TCW $81.7 million in royalties, and yesterday a DoubleLine expert witness, Michael Wallace countered that the trade secrets in question were worth as little as $2.3 million.

On September 16 a jury awarded Gundlach and his team $66.7 million in back pay. The jury also declined to award damages to TCW over the fiduciary breach claim and left the damages on the trade secrets claim up to the judge. DoubleLine also wants the judge to force TCW to compensate DoubleLine for court costs. 

Edited by: Neil Anderson, Managing Editor


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