PIMCO Accuses Bill Gross of Leaking Confidential Bonus Records

Gross, 72, last week accused the Newport Beach, California-based asset management firm of "bad faith obstruction" for withholding potential evidence about its investment strategy and its compensation practices. Gross argues that information will support his claims that other management directors wanted his share of the bonus pool after he'd had a falling out with them over Pimco's move into more risky investments.

"Pimco's latest motion is an effort to deflect blame from its litigation misconduct by making off-topic insults and baseless accusations against our client," Gross's attorney Patricia Glaser, said in an e-mailed statement. "The only party trying play 'hide the ball' is Pimco."

Privacy Claim

Pimco has argued that Gross's broad demand for records of all Pimco's interactions with government regulators and every meeting of its most senior executives over the past five years is irrelevant to the narrow employment claims at stake in the lawsuit. The company also claims that disclosing executive compensation files would violate the privacy rights of people not involved in the lawsuit.

Bloomberg reported in November 2014, two months after Gross left the firm, that he received a bonus of about $290 million in 2013. Other bonuses reported for 2013 included $230 million for Mohamed El-Erian, Pimco's then chief executive officer, $70 million for Daniel Ivascyn, who succeeded Gross as chief investment officer, and $45 million for Douglas Hodge, who succeeded El-Erian as CEO. El-Erian is now a Bloomberg View contributor.

— Related on ThinkAdvisor:

• Bill Gross: Yellen Policies 'Destroy Capitalism's Business Models'
• PIMCO Loads Up on Treasuries; Gundlach and Gross Voice Caution
• Bill Gross: Historic 40-Year Stock and Bond Run Is Over
• Bill Gross Jumps From PIMCO to Janus Capital