You might recall we covered this nasty, brutish but not short battle back in early 2010: http://wombletradesecrets.blogspot.com/2010/01/money-management-firm-says-former.html. TCW Group accused its former golden boy Jeffrey Gundlach of stealing employees and trade secrets regarding clients but leaving a cache of porn and drugs in his office.
Well, the Los Angeles Business Journal is reporting that the trial court has sided with DoubleLine and has thrown out two of the claims in a lawsuit filed by TCW against a mutual-fund trust subsidiary of DoubleLine and denied TCW’s attempt to have the trust temporarily closed. TCW last month sued the trust and its trustees for allegedly misappropriating trade secrets after Gundlach was fired from TCW in December 2009.
“There are insufficient factual allegations that the trust … ever possessed, disclosed or used TCW’s alleged trade secrets,” West wrote in the Thursday ruling.
The judge preliminarily dismissed five other claims related to unfair competition, but he allowed TCW to amend those complaints.
This case surely isn't over but TCW didn't win this round.