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Jeffrey Gundlach

BUSINESS
August 12, 2011 | By Tom Petruno, Los Angeles Times
Star Los Angeles bond fund manager Jeffrey Gundlach found his character on trial as he took the stand for the first time in his high-stakes court battle with his former employer, money management giant TCW Group Inc. TCW's lead attorney, John Quinn, sought to convince the jury Thursday that Gundlach was disloyal to TCW and to his own longtime fund co-manager and that Gundlach's conduct left the firm little choice but to oust him in December 2009....
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BUSINESS
July 29, 2011 | By Tom Petruno, Los Angeles Times
Now on trial in an L.A. courtroom: a classic case of Wall Street greed. That's the picture lawyers for both sides painted for jurors in the first round of the high-stakes court battle between L.A. money manager TCW Group and its former investment chief. Jeffrey Gundlach, the star bond fund manager who was fired by TCW in December 2009, was ousted because he was plotting to destroy the company by setting up a rival firm with secrets stolen from TCW, TCW's lawyers said in their opening statement Thursday.
BUSINESS
July 22, 2011 | By Tom Petruno, Los Angeles Times
A Los Angeles courtroom is about to become a venue for Wall Street's dirty laundry. In a trial expected to be closely watched by the financial industry, L.A. money management giant TCW Group is suing its former chief investment officer, Jeffrey Gundlach, alleging that he and his aides conspired to steal massive amounts of TCW proprietary information in 2009 to set up a rival firm. Gundlach, a star bond fund manager, has denied TCW's allegations and has countersued. The 51-year-old math whiz accuses his former employer of firing him to cheat him out of a huge chunk of promised income.
BUSINESS
July 7, 2011 | By Tom Petruno, Los Angeles Times
Star bond fund manager Jeffrey Gundlach won a key court ruling in his battle with TCW Group, with a judge opting to let a jury decide whether Gundlach's former employer sought to cheat him out of a huge chunk of income. The court's decision means that Gundlach's claim will be heard in a case scheduled for trial July 25, along with TCW's claim that Gundlach set up his new firm with trade secrets stolen from TCW. Los Angeles County Superior Court Judge Carl West said in a written opinion Wednesday that Gundlach's claims were "triable issues of fact" that should go before a jury rather than be dismissed by the court as TCW had asked.
BUSINESS
June 18, 2011 | By Tom Petruno, Los Angeles Times
Oaktree Capital Management, one of L.A.'s largest money management firms, filed Friday to sell stock to the public. In a registration statement filed with the Securities and Exchange Commission, Oaktree said it hoped to raise as much as $100 million but didn't say how many shares would be sold. Oaktree manages more than $80 billion in assets, an amount that has more than doubled since October 2007. The firm is one of Wall Street's best-known investors in "distressed" securities, meaning bonds of companies that find themselves in financial trouble.
BUSINESS
January 22, 2011 | By Tom Petruno, Los Angeles Times
The judge presiding over a bitter legal battle between Los Angeles money managers TCW Group Inc. and DoubleLine Capital has thrown out TCW's attempt to effectively shut down DoubleLine's mutual funds pending a trial. L.A. County Superior Court Judge Carl West late Thursday denied TCW's request that the court create a trust that could lay claim to gains generated by the DoubleLine funds. "Such a remedy is not available" to TCW under federal law, the judge said in his ruling.
BUSINESS
December 9, 2010 | By Tom Petruno, Los Angeles Times
The bitter split-up of L.A. investment firm TCW Group and its former chief investment officer, Jeffrey Gundlach, is under investigation by the Justice Department. An updated federal filing by mutual funds managed by Gundlach's year-old company, DoubleLine Capital, disclosed that some employees and former employees of DoubleLine have been interviewed by officials from the U.S. attorney's office in Manhattan. Also, TCW, which nearly a year ago sued Gundlach for alleged theft of TCW proprietary information, confirmed that it had received a federal criminal grand jury subpoena "with regard to the investigation of DoubleLine and its principals for trade-secret theft," said Steve Madison, an attorney at TCW's outside counsel, Quinn Emanuel.
BUSINESS
July 25, 2010 | By Tom Petruno, Los Angeles Times
Ousted last December after 24 years at TCW Group, star bond fund manager Jeffrey Gundlach wasted little time setting up a rival money management firm with most of his former TCW teammates. But his DoubleLine Capital has fallen short of attracting the assets that Gundlach predicted, despite the strong performance of his new flagship mutual fund. Gundlach had overseen about $70billion in bonds at TCW. Soon after TCW fired him, shocked investors quickly pulled about $25 billion from the company.
BUSINESS
July 25, 2010 | By Tom Petruno, Los Angeles Times
As chairman of the Los Angeles Opera, Marc Stern went out on a limb to back the group's ambitious staging of Richard Wagner's "Ring" cycle this spring. But for high drama, that couldn't top the gamble Stern took last December in his day job as chief executive of TCW Group Inc., the downtown Los Angeles firm that manages investments for some of the nation's largest pension funds, insurance companies and other big investors. Like most money managers, the 40-year-old firm with patrician roots seeks to convey an image of strength and stability.
BUSINESS
June 26, 2010 | By Tom Petruno, Los Angeles Times
DoubleLine Capital, the L.A. money management firm founded by ex-TCW Group executive Jeffrey Gundlach in December, said Friday that its flagship bond mutual fund had accumulated $1 billion in assets in less than three months. The milestone may help Gundlach as he seeks to attract investors who had invested with him at TCW before the firm ousted him in a bitter breakup Dec. 4. The DoubleLine Total Return Bond fund has been the fastest-growing new mutual fund of 2010, according to Morningstar Inc. The fund, which invests mostly in mortgage-backed securities, was launched April 6 and is up 7.4% since then, according to Bloomberg News data.
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