March 1, 2016 / 6:48 PM / 2 years ago

'Bond King' Gross: I did not quit Pimco

(Reuters) - Bond fund manager Bill Gross on Tuesday accused Pacific Investment Management Co of falsely claiming that he suddenly decided in 2014 to abandon the firm he co-founded, in an effort to win dismissal of his $200 million breach of contract lawsuit.

Bill Gross speaks at the Morningstar Investment Conference in Chicago, Illinois, June 19, 2014. REUTERS/Jim Young

In papers filed with a state court in Orange County, California, Gross said Pimco’s “misconduct” cost him not only substantial sums he earned, but also led to what the man known as the “Bond King” called the “tarnishing of his stellar lifelong reputation.”

Pimco, a unit of German insurer Allianz SE, had sought in November to throw out Gross’ lawsuit. Gross now works for Janus Capital Group Inc.

Reporting by Jonathan Stempel in New York; Editing by Phil Berlowitz

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