Bill Gross Lawsuit Contains ‘Sufficient Facts’, Judge Rules

Bill Gross’ $200 million suit against PIMCO can now head to court.

billgrosspimcoBill GrossA California state judge has issued a tentative ruling approving Bill Gross’ lawsuit against PIMCO for a court judgment.

Without ruling on the merits of the case, Judge Martha Gooding said the PIMCO co-founder’s complaint against his former employer contained enough facts to plead a case.

According to the ruling, “Plaintiff Gross alleges sufficient facts based on allegations concerning his status as the founder, a 40-year history, an alleged track record of bringing success and/or fame to the enterprise, as well as a series of alleged oral promises/assurances of continued employment.”

The ruling is in response to a legal filing by PIMCO requesting the lawsuit’s dismissal, in which the bond giant described the complaint as “a legally groundless and sad postscript” to Gross’ tenure.

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“The complaint suffers from two fatal flaws,” the filing said. “First, the allegations are untrue. Second, even if every well-pled fact were assumed to be true, the complaint fails to state any viable legal claim.”

Gross sued PIMCO and its parent company Allianz in October for at least $200 million, claiming he was wrongfully pushed out of the firm and denied “hundreds of millions of dollars” in earned compensation.

Related: Bill Gross Sues PIMCO for $200M; Inside Bill Gross’ Lawsuit; PIMCO Hits Back at Gross Lawsuit

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