The Traderszone Network

Published in TZ Latest News 8 October, 2015 by The TZ Newswire Staff

Bill Gross sues Pimco for $200 million over forced ouster

Billionaire bond investor Bill Gross sued his former employer Pacific Investment Management Co and its parent Allianz SE (ALVG.DE) for $200 million, saying a greedy “cabal” of executives drove him out of the bond fund giant he helped found because they wanted his huge bonus for themselves. The lawsuit ratchets up the vitriol between Gross, 71, who now works at Janus Capital Group Inc (JNS.N), and Pimco, which he built over four decades into a $2 trillion bond fund company.

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