MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Bill Gross Says Pimco Aims To ‘Lure’ Judge Into Tossing Case

TedTed
in Fund Discussions
FYI: Pimco co-founder claims firm ousted him so he'd lose bonus

He now co-manages a $1.26 billion Janus global bond fund

Bill Gross said Pacific Investment Management Co. isn’t playing by the rules in its effort to kill the lawsuit he filed last year over his departure.

Gross told a California state judge Tuesday that the company he started more than 40 years ago improperly misconstrued his allegations in order to have them thrown out before he gets a chance to present his evidence.
Regards,
Ted
http://www.bloomberg.com/news/articles/2016-03-01/bill-gross-says-pimco-tries-to-lure-court-into-tossing-case

Comments

  • MarkMark
    True dat Bill! Just because you're paranoid doesn't mean they're not all out to get you.
  • msf
    The rules are: assume all the plaintiff's (Gross') facts are true. If the law says he'd still lose, then he loses, end of story.

    Sounds like that's what PIMCO is saying - that the "lawsuit had no basis in law".

    In fairness, as I recall the suit (I haven't gone back to reread the allegations), Gross may be claiming that when others were fired or left, the company was gracious enough to pay their bonuses to the end of the quarter anyway. Since PIMCO went beyond what it was required to do with others, it should now be required to pay Gross a bonus as well.

    Not sure how good my memory is here.
Sign In or Register to comment.