Investment manager Bill Gross has reached a settlement with Pacific Investment Management Co., the Newport Beach investment giant he founded and led for decades, then sued in 2015 after an acrimonious split. In a joint press release Monday, Gross and Pimco executives called the settlement amicable, but did not disclose terms. The release noted that “any proceeds from the suit will be donated to charity,” something Gross had promised to do since filing the suit. “Pimco has always been family to me, and, like any family, sometimes there are disagreements. I’m glad that we have had the opportunity to work through those,” Gross said in Monday’s statement.

Source: Los Angeles Times March 27, 2017 18:22 UTC