Bill Gross is suing Pimco and its parent company Allianz for “hundreds of millions of dollars,” Bloomberg reports on Thursday. The complaint alleges Gross was wrongfully pushed out as the bond giant’s chief investment officer by a “cabal” of executives seeking a bigger slice of the bonus pool, but there's plenty of other meat to chew on in the full complaint.
PIMCO established and provides a profit-sharing plan for its managing directors. The contours of this profit-sharing or bonus pool plan are governed by the Amended and Restated Pacific Investment Management Company LLC Non-Qualified Profit Sharing Plan dated as of January 1, 2012 (the "Plan"). A tru...
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