Gundlach Says He, TCW Managers Opposed Stern’s 2009 Return

DoubleLine Capital LP’s Jeffrey Gundlach told a jury he and other group managers at TCW Group Inc. opposed the appointment of Marc Stern as chief executive officer in June of 2009, six months before Gundlach was fired.

Gundlach, testifying for a third day in the trial that pits him and three other former TCW employees against the asset-management firm, said he told Stern, who had stepped down as the company’s president in 2005, and TCW founder Robert Day that they couldn’t just “breeze” back in, after he and the other managers had kept TCW going through the financial crisis.