Gross Says Pimco Executives Plotted His Ouster to Get His Bonus
- Describes clash with El-Erian over expansion away from bonds
- Claims Ivascyn led `cabal' seeking bigger share of profits
Gross Seeks Vindication as he Sues Firm he Helped Build
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A year after Bill Gross was ousted from the firm he helped build, he is looking for vindication.
In a lawsuit filed Thursday, the co-founder of bond giant Pacific Investment Management Co. accused the firm and several of its executives of pushing him out in order to divvy up his 20 percent share of Pimco’s profit pool. Gross seeks “hundreds of millions of dollars,” money the billionaire plans to give to charity should he win, his lawyer Patricia Glaser said.