Gundlach Tangles With Ex-Partners Over Value of DoubleLine Stakes
- DoubleLine, Gundlach accused of diluting ex-partners’ shares
- Ex-partners want to vacate arbitration ruling in firm’s favor
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Jeffrey Gundlach once accused his former employer, TCW Group Inc., of diluting his stake in the company. Now the billionaire founder of DoubleLine Capital is battling accusations that he did something similar to executives who helped him build his $96 billion bond giant.
Several former limited partners and related trusts allege in legal filings that the firm and its founder used a lowball estimate to value their shares when they departed and redistributed some of the equity to himself, according to court papers.