Really!? TCW Ex-Manager Claims He Was Fired for not Attending his Boss’ Parties
11:27 am, August 18th | by Sylvie Krekow
If you thought the details in the case against Jeffrey Gundlach couldn’t get more awkward than his alleged treasure-trove of in-office sex toys and the papers he purportedly stole that “would equal two-and-a-half Empire State buildings, if stacked,” you were wrong.
Because Gundlach’s side is firing back. And it isn’t pretty.
Gundlach, a bond fund manager who used to work for TCW Group, was fired from his job for “three reasons,” according to his
BFF ex fund co-manager, Philip Barach. Which reasons? “One was that Gundlach did not attend [TCW Founder] Day’s staff parties over the years,” Barach claimed. Another? That he didn’t correctly call the drop in the market in March of ’09. And finally, Gundlach was allegedly making “too much money.” This all came out during Barach’s court testimony yesterday, according to the LA Times.
Sheesh. Gundlach sounds like an all-around creep to us, but being fired from your job for making too much money? If that’s true, it seems a bit harsh. And that’s what Gundlach is trying to prove in his counter-suit — TCW Group originally sued him because, allegedly, Gundlach stole “massive amounts of TCW’s proprietary information and used it to launch a rival money manager, DoubleLine Capital,” a mere 10 days after he was fired.
Seems pretty shady on both sides.