A DoubleLine Capital employee was questioned by an agency associated with the U.S. Treasury's Legacy Securities Public-Private Investment Program over a lawsuit against DoubleLine by TCW, according to a DoubleLine filing with the SEC.
Neither the agency nor the employee was identified in the filing.
TCW's lawsuit against DoubleLine, founder Jeffrey Gundlach and three others at the firm — all former TCW employees — accuses them of stealing TCW property, fraud and breach of fiduciary duty. That lawsuit, filed in January, followed TCW's December termination of Mr. Gundlach, who oversaw the PPIP investment while CIO for fixed income at TCW.
DoubleLine's SEC filing noted that TCW “raised a fund under the PPIP in the fall of 2009 to be managed by Mr. Gundlach, as key person, and announced in January 2010, subsequent to the termination of Mr. Gundlach, that it had voluntarily withdrawn the fund from the PPIP and would conduct an orderly liquidation of the fund.”
Treasury spokeswoman Kristine Belisle would neither confirm nor deny the existence of an investigation.