There is no new development in the TCW
feud, but fundsters who are following the dispute may find a
Reuters piece from Tuesday
of interest. Among other things, the article contains a detailed account of the confrontation between Gundlach and TCW CEO Marc Stern
on September 3, three months before Gundlach's ouster.
To read the rest of the story of the fight between Gundlach and TCW, click here.
"I am hearing that there's a floor full of lawyers and they are here to fire me," Gundlach told Stern at a conference room where seven of Gundlach's lieutenants were present.
Stern told Gundlach that he wasn't being fired. Gundlach then complained that he was not part of talks to sell TCW, then put in an offer to buy a majority interest in the firm for about $350 million. Gundlach told
Stern that if TCW didn't accept his plan, he might leave the firm and take his team with him. Addressing the room, he asked how many would leave with him, and all seven lieutenants raised their hands.
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