For those who didn’t know, star bond fund manager Jeffery E. Gundlach had been locked in a vicious legal battle with his former employer TCW over his alleged stealing of trade secrets. The trial came to a startling end Friday as Gundlach and three of his colleagues were found guilty on all three accounts of stealing trade secrets from TCW. But wait, there’s more.
The jury, instead of awarding TCW a large amount, awarded damages to Gundlach. Gundlach had been filing a countersuit saying that TCW owed him millions of dollars in compensation for the funds that he ran and the jury seemed to agree, to the tune of some $66.7 million.
TCW did not leave empty handed though, since they made Gundlach look like an arrogant prick (which apparently he is) and will be awarded damages later (an amount which will be decided by the court at a later date).
However, this brings up a big question; did the jury’s decision make stealing trade secrets and breaching one’s fiduciary duty almost acceptable by giving Gundlach a slap on a wrist while they gave TCW a slap in the face? What do you think monkeys?
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