Pimco has agreed to pay US$81 million to settle the lawsuit from its founder Bill Gross, reports the Financial Times.

Those familiar with the deal say Gross claimed he was illegally ousted from the firm in 2014, says the report. Gross claimed he was owed at least US$200 million in lost bonuses and compensation as a result of a management uprising that forced him out as the company’s CEO.

Pimco had denied the claim, citing Gross’s erratic behaviour. Read the full article.

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