Bill Gross sues Pimco for $200 million over forced ouster

October 8, 2015 3:37 PM

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Bill Gross sues Pimco for $200 million over forced ouster

Bill Gross, the prominent bond investor, has sued his former employer Pacific Investment Management Co and its parent Allianz SE for $200 million, claiming that he was wrongfully ousted by a "cabal" of executives who wanted his share of the bonus pool.

In a complaint filed on Thursday in the California Superior Court in Orange County, Gross said Pimco managing directors were "driven by a lust for power, greed, and a desire to improve their own financial position and reputation" in an ultimately successful plot to drive him out in September 2014.

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