The multi-million dollar lawsuit that Trust Company of the West brought against former star portfolio manager Jeffrey Gundlach, who TCW fired in 2009 but who then formed his own, competing firm, DoubleLine Capital, was settled last Thursday out of court.
The two firms would not disclose terms of the settlement, although the lawsuit, which accused Gundlach and his associates of stealing trade secrets, was in the hundreds of millions of dollars.
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