ML-Implode News - Gross Lawsuit: Pimco Executives Plotted Ouster to Usurp Bonus

The lawsuitÂ contains a detailed account of the events leading up to Gross's departure last year,Â a move that rattled bond markets and prompted record redemptions at what once was the world's largest mutual fund. It portrays Gross, 71, as an advocate for lower fees and traditional, lower-risk bond investments who was pushed out gradually by other executives seeking to expand into riskier assets and higher-fee products.
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Total Return, now run by Scott Mather, Mark Kiesel, and Mihir Worah, gained 1.7 percent in the past year, beating 74 percent of similar funds, according to data compiled by Bloomberg.
Gross runs the $1.38 billion Janus Global Unconstrained Fund for Janus Capital Group Inc., which has lost 1.9 percent in the past year, according to data compiled by Bloomberg. That performance puts him in the middle of his peer group, trailing 51 percent of unconstrained funds.

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Gross Lawsuit: Pimco Executives Plotted Ouster to Usurp Bonus