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Jury Finds DoubleLine's Jeff Gundlach Breached Fiduciary Duty To TCW

Tyler Durden's picture




 

Just out from Bloomberg:

  • Jeffrey Gundlach Found Liable for Breach of Fiduciary Duty
  • TCW wins trade secret claim against Gundlach
  • TCW wins no punitive damages against Jeffrey Gundlach

Well, that's over and done with. At least a jury did not find him to be a worse bond investor than Bill Gross...

More as we get it.

 

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Fri, 09/16/2011 - 11:56 | 1677248 Robslob
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What did Gundlach do...actually make his investors money instead of raping them like Goldman?

 

Off with his head!

Fri, 09/16/2011 - 13:26 | 1677733 Thomas
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I think he probably made a rational bet on bonds that did not pan out (and is not consistent with our national interest).

Fri, 09/16/2011 - 12:06 | 1677309 Cheyenne
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Fiduciary duty? What in the Sam Hill is that? Intermediation and market-making, dude.

Fri, 09/16/2011 - 12:47 | 1677537 NotApplicable
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He must've forgotten to flush.

Executive washrooms have rules, you know.

Fri, 09/16/2011 - 12:13 | 1677361 no2foreclosures
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What a fucking joke.  Who the hell is Jeff Gunhdlach?  Who the hell cares?

Fri, 09/16/2011 - 13:27 | 1677739 Thomas
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The reason it matters is that he is supposedly one of the good guys who is willing to bet against the corrupt system. They are saying to others tempted to do so that there will be a price.

Fri, 09/16/2011 - 13:32 | 1677762 AnarchoCapitalist
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He is the best bond manager of the past decade. He calls the Fed and the Treasury on their bullshit. He left TCW a couple years ago and started the DoubleLine fund and has made his investors money while educating them about what our Goverment is up to.

Fri, 09/16/2011 - 12:14 | 1677365 Jumbotron
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TCW wins no punitive damages against Jeffrey Gundlach

 

That's all you need to know.

Fri, 09/16/2011 - 12:18 | 1677393 jblack010
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Plus Gundlach won his unpaid wages claim of $66 mil.

Fri, 09/16/2011 - 13:37 | 1677787 NotApplicable
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That'll teach him.

Fri, 09/16/2011 - 12:19 | 1677395 eurusdog
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A legal system that is all bark and no bite. FOund guilty, and liable, but no punishment! Hmm makes sense!

Fri, 09/16/2011 - 12:45 | 1677526 Dicite justitiam
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DoubleLine, imo, is a bastion of awesomeness amongst a world of suck.  I hope I'm right.  Good for Jeff & friends.

Sat, 09/17/2011 - 01:28 | 1679395 Civil Shepard
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do you really think $67mil is awesomeness?   for what?  on what basis?

Fri, 09/16/2011 - 13:09 | 1677654 Quantum Nucleonics
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Everbody gets their egos stroked.  Lawyers get to bill lots of court time billable hours.  Win, win.

Sat, 09/17/2011 - 01:25 | 1679393 Civil Shepard
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I invest in RiverNorth/Double Line but am shocked today to hear that Gunlach will get $67mil in withheld pay from TCW.   WTF... 67 mil !!!   This is one of our very basic problems... for someone to earn $67 mil... who manufactures/creates NOTHING and simply provides a "service" in our economy.  I do not know the solution, but such compensation is wrong for those who do not support jobs nor do anything to grow our economy.   Sucking us dry.   I am immediately reassessing my investment, just as I've done with Fairholme fund, because, I can vote with my dollars and I don't support this crap.  

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