Star bond trader settles lawsuit with L.A. money management firm

This case would never make it on TV or in the movies - the denouement wasn't nearly exciting enough. Not that protagonist Jeffrey Gundlach isn't a character - an egomaniacal math whiz (he's referred to himself as "the Pope"), the guy speaks in cryptic monologues and has a "boss from hell" reputation. Gundlach is strange in other ways: As part of a legal complaint, TCW said that Gundlach's office contained marijuana, drug paraphernalia, 12 sexual devices, 34 hardcore pornographic magazines, and 36 hardcore sexually explicit DVDs and videocassettes. But all that was preamble for the main event: TCW alleging that Gundlach and his aides stole information in order to set up a rival firm, DoubleLine. Gundlach then accused TCW of bilking him of money he was owed. The case went to court, but much of the salacious backstory could not be introduced as evidence, so the civil trial came down a series of rather tedious claims and counterclaims. A jury verdict was not conclusive: Gundlach was found to have violated his fiduciary duty and stolen trade secrets. The jury, however, didn't award any damages to TCW on the fiduciary part. A judge was to decide damages on the theft of trade secrets, but both sides apparently decided it was best to clear the decks and call the whole thing off. There were no details on terms of the settlement. (NYT, WSJ)