A trust created by DoubleLine Capital LP’s Jeffrey Gundlach was sued by TCW Group Inc., which already sued its former investment chief after he brought more than half of its fixed-income professionals to his new firm.
DoubleLine Funds Trust was started to market DoubleLine Capital’s mutual funds and to “generate fees and profit for Gundlach and the money management firm he had formed,” TCW said in a new complaint filed Wednesday in state court in Los Angeles.
TCW, a Los Angeles-based money management firm and unit of Societe Generale, in January accused Gundlach and several former employees who joined DoubleLine of breach of fiduciary duty, unfair competition and misappropriation of confidential information and demanded more than $200 million in damages.
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