Gundlach Says He Opposed Stern’s Return to TCW

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Aug. 17 (Bloomberg) -- Jeffrey Gundlach, chief executive officer of DoubleLine Capital LP, testified yesterday that he and other group managers at TCW Group Inc. opposed the appointment of Marc Stern as chief executive officer in June 2009, six months before Gundlach was fired. Los Angeles-based TCW fired Gundlach in December 2009 and sued him the following month after more than half of its fixed-income professionals joined his new firm. TCW seeks $375 million in damages, claiming Gundlach stole its trade secrets, including client portfolio data, to start DoubleLine. (Excerpts courtesy of Courtroom Connect. Source: Bloomberg)

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