Bill Gross is suing PIMCO for 'hundreds of millions of dollars'
He is seeking "hundreds of millions of dollars", according to a report by Nathaniel Popper at The New York Times.
A complaint filed by Gross' lawyers alleges that "a cabal" of managing directors at PIMCO pushed him out as a result of "a lust for power, greed, and a desire to improve their own financial position", according to the report.
PIMCO is a fund behemoth with a whopping $1.52 trillion in assets under management as of June 30 2015.
The firm was at the center of one of the stories of 2014.
Then-CEO Mohamed El-Erian shocked the world with his surprise resignation in January 2014. That was quickly followed by a series of stories from The Wall Street Journal and Reuters about the unorthodox management style of founder and then-co-CIO Gross.