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Gross's War Against Pimco Ends With Public Feel-Good Moment

  • Fund firm said to pay $81 million to resolve contract claim
  • Settlement signals ‘a new day’ for Gross and Pimco: Ex-CEO
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Bill Gross, Pimco Said to Settle Suit Over His Departure

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For Bill Gross, the long goodbye is finally over.

More than two years after the legendary bond manager was ousted from Pacific Investment Management Co. -- the firm he co-founded and built into a $2 trillion asset manager -- he settled a bitter legal dispute with a public rapprochement.