Gundlach Was Party Pooper Who Earned Too Much: Witness

Law360, Los Angeles (August 17, 2011, 7:43 PM EDT) -- A witness said Wednesday that TCW Group Inc. founder Robert Day fired Jeffrey Gundlach because the star bond trader accused of trade secrets theft made too much money, failed to predict the 2009 stock market dive and didn’t go to Day’s parties.

Gundlach’s top lieutenant, former TCW managing director Phil Barach, testified in California state court that he was called into a meeting with Day and chief executive officer Mark Stern in the early afternoon of Dec. 4, 2009, and delivered a bombshell — Gundlach was...
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