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Friday, January 08, 2010

Gundlach Readies His Counter-Suit

Reported by Daniel Tovrov

The soap opera involving TCW and Jeff Gundlach appears to be far from over.

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

In response to the lawsuit filed by TCW, Gundlach & co. issued a statement on Thursday, saying: "DoubleLine and Mr. Gundlach are asserting their legal rights in a lawsuit to be filed shortly, which will demonstrate the thoroughly baseless nature of TCW's claims and seek redress for TCW's deplorable conduct."

TCW filed a 40-page complaint in Los Angeles against Gundlach and three others on Thursday, alleging breach of fiduciary duty, unfair competition, breach of confidence, threatened and actual misappropriation of trade secrets, intentional interference with contractual relations, intentional interference with with prospective economic advantage, and civil conspiracy.

A DoubleLine spokesperson declined to comment. 

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