LOS ANGELES, Oct. 20, 2015 — Attorney Carney Shegerian, founder of the Los Angeles-based employment discrimination firm Shegerian & Associates, released comments on bond guru Bill Gross’s $200M lawsuit against former employer Pacific Investment Management Company, also known as PIMCO. The suit alleges a group of executives orchestrated Gross’s wrongful termination in order to confiscate his 20 percent share of a large bonus pool.
“This lawsuit is a very interesting one in terms of its unique legal aspects,” said Shegerian. “According to the complaint, despite being the co-founder of a trillion-dollar company, the plaintiff, Bill Gross, was not working under an employment contract. However, the lack of an employment contract does not necessarily rule out a successful wrongful termination lawsuit,” Shegerian went on to say. “Gross is claiming he had an enforceable agreement in place just before he was terminated. There was also an important profit-sharing agreement in place. Courts will need to evaluate the legitimacy of these agreements in order to determine the merits of the case.”
“Also at issue is the timing of the termination and the conditions PIMCO placed on Gross before he was terminated. According to the complaint, PIMCO proffered Gross could remain at the company until December or be terminated, allegedly because PIMCO wanted to avoid paying Gross his required bonus,” Shegerian went on to say. “A claim of this kind could be viewed by courts as violation of California laws designed to protect employees from the unfair underlying motives of their employers.”
Mr. Shegerian is founder of Shegerian & Associates and winner of the 2013 Trial Attorney of the Year Award from the Consumer Attorney Association of Los Angeles. His firm has attained a consistent track record of successful jury trials and has won over 72 jury trials, including over 30 seven and eight figure verdicts. The firm has an over 95% success rate and remains an exemplary leader in resolving employment discrimination and personal injury cases.
Located in Los Angeles County, Shegerian & Associates is a law firm specializing in employment law and personal injury litigation. Shegerian & Associates is dedicated to serving the needs of its clients, and has won over 72 jury trials, including over 30 seven and eight figure verdicts. For more information, visit www.ShegerianLaw.com or www.GotFired.com.
*Original link provided for archival purposes. Website or page may no longer exist.