Jury: Gundlach breached duty, but no TCW damages
Star bond-fund manager Jeffrey Gundlach breached his duties to Trust Company of the West in their messy divorce but the investment firm should not be awarded any damages, a jury ruled.
The verdict was reached by a Los Angeles Superior Court jury after just two days of deliberations, and announced in court on Friday morning.
The six-week civil trial transfixed the financial industry, offering a peek inside the inner workings of big investment firms and the outsized personalities who run them. Gundlach was fired by TCW, a unit of French bank Societe Generale (SOGN.PA), and now runs DoubleLine Capital.
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