Did star bond manager Jeffrey Gundlach get fired from Trust Company of the West for not going to enough of his boss’s parties?
Well, that might be one reason, according to Gundlach’s long-time co-manager Philip Barach.
Gundlach, who is currently engaged in an ugly legal battle between his former employer TCW Group, was fired in 2009 after 24 years with the firm.
Some pretty some interesting allegations are starting to come out in the civil case in a Los Angeles court.
During a testimony on Wednesday, Gundlach’s long-time co-manager revealed “three reasons” TCW’s founder Robert Day allegedly listed for firing Gundlach.
Here are the reasons: [via LA Times]
One was that Gundlach did not attend Day’s staff parties over the years, Barach said. He said he reminded Day that Gundlach “had gone to the last party.”
A second reason was that Gundlach “did not call the lows in the stock market in March 2009,” Day said, according to Barach.
And third, Day allegedly told Barach, Gundlach was making “way too much money.”