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Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

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Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

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Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

1

Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

2

Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

3

Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998
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Bill Gross is suing Pimco for $200M

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Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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October 8, 2015, 12:49 PM ET
Geithner Provides "Wiggle Room" on U.S. Deficit, Bill Gross Says
Bill Gross, co-chief investment officer of Pacific Investment Management Co., poses for a photograph in New York, U.S., on Monday, May 16, 2011. Treasury Secretary Timothy F. Geithner's action to stave off the federal debt limit until August gives the U.S. some "wiggle room," Gross said today. Photographer: Scott Eells/Bloomberg via Getty ImagesBloomberg via Getty Images
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Bill Gross filed a lawsuit on Thursday against Pacific Investment Management Co. and its parent company Allianz, the New York Times reports.

Gross founded Pimco in 1971, and supposedly quit last year to join Janus Capital. It had later come out that Gross was fired after two money managers had spoken to the press claiming erratic behavior and tantrums as pressure to sustain returns at his Total Return Fund, which was the world’s largest at that time. Gross had offered to step down from his role and focus on a smaller position, but says that Pimco refused.

The lawsuit takes aim at former Pimco CEO Mohamed El-Erian, and Daniel J. Ivascyn, who took over from Gross as chief investment officer. It says that he is seeking damages in no less than $200 million, which Gross says he will give to charity.

The lawsuit refers to Pimco’s secretive bonus plan and claims that Gross is entitled to 20% of the firm’s bonus pool, which added up to $300 million in 2013. Gross also alleges that his ousting was motivated by other top executives’ greedy desires to make more money for themselves. He claims that Ivascyn admitted he “wasn’t a long-term player” and would go somewhere else for more money.

The New York Times has the full text of the lawsuit.

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