- Pimco founder says he was ousted to avoid $200 million share
- Boies has record litigating for Al Gore, Hank Greenberg
Pacific Investment Management Co. hired attorney David Boies to defend claims it ousted the founder who oversaw its ascent for 43 years, Bill Gross, to avoid paying him a $200 million cut of last year’s bonus pool.
Boies, chairman of Boies Schiller & Flexner LLP, has represented U.S. Vice President Al Gore in litigation over the 2000 presidential election, and more recently former American International Group Inc. Chairman Maurice “Hank” Greenberg in his lawsuit against the U.S. government over AIG’s bailout.
SAC Capital Advisors founder Steven Cohen, fighting a U.S. Securities and Exchange Commission civil case, has also hired Boies, a person familiar with the matter has said.
Boies, 74, and two other lawyers from the New York firm filed requests Thursday to participate as out-of-state counsel in state court in Santa Ana, California, where Gross filed his complaint this month.
Gross is suing the Newport Beach, California-based firm for constructive termination, breach of written contract, and breach of covenant of good faith and fair dealing. Pimco has 30 days after the filing of complaint on Oct. 8 to file its formal response to the allegations.
The case is Gross v. Pacific Investment Management Co., 30-2015-00813636, California Superior Court, Orange County (Santa Ana).