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Bill Gross Sues Pimco, Blaming Greedy 'Cabal' for His Ouster

NEW YORK (TheStreet) -- Bill Gross, the Pimco founder who left the firm a year ago, claims in a lawsuit that he was improperly forced out by a cabal of executives seeking greater power and wealth at his -- and investors' -- expense.

Gross, a Vietnam veteran who started Pimco in the 1970s with $12 million in assets, became one of the industry's best-known figures over the next 40 years, earning the moniker "Bond King" for his investing prowess as Pimco's assets under management grew to almost $2 trillion. His lawsuit filed in Orange County Superior Court in California, seeks "hundreds of millions of dollars" in...