Bill Gross Wants Pimco Put In A Time Out
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Back in October, Bill Gross sued Pimco, the company he co-founded in 1971, claiming that management owed him a bonus he never received after being fired. Some people might be fully willing to accept the firing allegation without hearing further evidence, based on the fact that in the months leading up to Gross's departure from the firm, he:
- Didn't let employees look him in the eye
- Docked people's pay for single typos
- Fined, on at least one occasion, a trader for sitting when Gross thought he should've been standing
- Referred to himself as "Secretariat"
- Called Reuters and told reporters that his former colleague, Mohammed El-Erian, had ghostwritten a negative article about him for the Wall Street Journal
- Told Reuters he had proof of the above because he'd been monitoring El-Erian's phone calls
- Told Reuters to stop taking "his side"</li>
Other people might consider the handwritten resignation note Gross left in the middle of the night (which read "This letter will confirm my resignation from PIMCO as of Sept. 26th, 2014 at 6:29 AM PST") as a problematic for the whole firing narrative. (Bill Gross is not on of those people.) As of late June, Gross was saying he was confident he'd win the suit but the caveat to that is apparently those f*ckers in Newport Beach getting out of his way, which they haven't and for which they should be taught a lesson.
Bond fund manager Bill Gross on Friday said Pacific Investment Management Co and its lawyers should be punished for unfairly impeding him from pursuing his $200 million lawsuit against the asset management firm, which he co-founded. In a court filing, Gross accused Pimco of "willful and bad-faith obstruction" of his efforts to gather evidence to which he is entitled, including by scheduling depositions in London and Hong Kong, some 6,000 miles (9,656 km) apart, on consecutive days in early November. "Discovery is not, and should not be, a game to be manipulated in this manner," Gross said in a filing with the California Superior Court in Santa Ana. "Substantial sanctions" against Pimco and its lawyers are justified to cover his legal bills stemming from the alleged misconduct, and "to punish Pimco's gamesmanship," he added.
Bill Gross wants Pimco, lawyers punished for 'bad-faith' tactics [Reuters]
