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Thursday, September 08, 2011

Gundlach Returns to the Stand

News summary by MFWire's editors

Jeff Gundlach returned to the witness stand yesterday, this time called by his own attorneys. The DoubleLine [see profile] chief offered more testimony on departure from Trust Company of the West (TCW [see profile]).

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

Bloomberg, Pensions & Investments and Reuters all reported on yesterday's testimony.

Gundlach testified that he didn't want to sue TCW and only did so defensively after TCW sued him. He also sparred with TCW's attorneys over whether or not he had a contract with TCW when they fired him. He dismissed an e-mail in which he had written that "Jeffrey Gundlach is not under contract with TCW," by saying he was trying to make a consultant he didn't like "go away."

And remember the rumors, already spouted in the courtroom, that Pimco tried to recruit Gundlach while he was at TCW? Yesterday Gundlach revealed that the Newport Beach, California-based fixed income giant approached him indirectly, through "some ambassadors Wall Street guys." 

Edited by: Neil Anderson, Managing Editor


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