TCW's Stern Testifies on Gundlach Firing

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Aug. 19 (Bloomberg) -- TCW Group Inc. Chief Executive Officer Marc Stern said he fired Jeffrey Gundlach in December 2009 because Gundlach was plotting to take TCW’s clients and portfolios to his own firm. Stern testifying yesterday in California state court in Los Angeles, said he made the decision to fire Gundlach, TCW’s chief investment officer and head of its fixed income group, because the company was being “threatened” and “in the process of being destroyed.” Erik Schatzker reports on Bloomberg Television's "InsideTrack." (Source: Bloomberg)

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