Veteran bond manager Bill Gross is suing his former employer PIMCO for "hundreds of millions of dollars" following his dismissal in 2014, according to reports.
Bloomberg reported the bond manager believes he was wrongfully pushed out by PIMCO executives who were after a "larger slice" of the bonus pool. He was set for a $250m bonus in 2014, but as he left before the end of the third quarter only a proportion of this was paid out. He said "their improper, dishonest, and unethical behavior must now be exposed", in a lawsuit filed in California state court today, a copy of which was seen by Bloomberg. Gross (pictured) is seeking no less than $200m in damages, which, if successfully claimed, will be donated to charities including the PIMCO Fo...
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