From the New York Times.
The jury found Jeffrey Gundlach liable on a trade secrets and a fiduciary duty claim, but awarded the other side zero damages. On his own claim of back pay, the jury awarded over $66 million.
The attorney for the other side was Susan Estrich. If memory serves, she was the woman who also lost it for Presidential candidate Michael Dukakis in 1988.
As a Gundlach, I remember noticing Mr. Gundlach’s name when I was an accountant for a money manager in Princeton, New Jersey. From this Barron’s article, he sounds like quite a character, and, so, good for him that he won the fight and keeps the clients–who clearly are happier with him than with his old firm.
[Update #1: Perhaps Gundlach and the Doubleline firm can celebrate with a bottle of wine from the Gundlach Bundschu winery, also in California. “After you’ve won, break out the GunBun.”]
[Update #2: Some video from Jeffrey Gundlach’s attorney, on Bloomberg.]