Bill Gross sued his former employer, Pimco, and its parent company on October 8 for breach of contract, alleging that managing directors plotted to drive the famed bond investor out of the firm because of “power, greed, and a desire to improve their own financial position,” according to court documents.

Gross, a co-founder of Newport Beach, California-based Pimco and the firm's former chief investment officer, abruptly left the company in September 2014 after increasingly erratic behaviour and disagreements with the firm's other executives, The Wall Street Journal reported at the time.