TCW sues Gundlach
TCW Group, the Los Angeles-based unit of Société Générale, sued former investment chief Jeffrey Gundlach and three ex-employees after more than half of its fixed-income professionals joined his new firm.
TCW accused Gundlach and several former employees who joined DoubleLine Capital of breach of fiduciary duty, unfair competition and misappropriation of confidential information in a complaint filed in state court in LA. TCW seeks more than $200 million in damages.
TCW said it dismissed Gundlach Dec. 4 because he threatened to quit and take key people with him. Gundlach disputed that assertion, saying he heard TCW and SocGen wanted to fire him.
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