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Breaking News from CNBC's Brian Sullivan: Bill Gross Settles PIMCO Lawsuit - Sources

WHEN: Today, Monday, March 27th

WHERE: CNBC's "Fast Money Halftime Report"

Following is the unofficial transcript of breaking news from CNBC's Brian Sullivan. Following is a link to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000604887.

All references must be sourced to CNBC.

BRIAN SULLIVAN: ACCORDING TO MY SOURCES, MINUTES AGO BILL GROSS HAS FILED A REQUEST TO DISMISS HIS $200 MILLION LAWSUIT AGAINST PIMCO, WHICH HE FILED BACK IN OCTOBER 2015. BECAUSE THEY HAVE SETTLED, GUYS, AND MY SOURCES TELL ME THAT SETTLEMENT – REMEMBER, GROSS WAS ASKING FOR $200 MILLION – IS BETWEEN $75 AND $100 MILLION. BILL GROSS WILL THROW IN A COUPLE, $10 MILLION OF HIS OWN MONEY TO ROUND IT OUT TO MORE THAN $100 MILLION, AND THAT ALL OF THAT MONEY WILL GO TO CHARITY, TO THE SUE AND BILL GROSS FOUNATION. AS PART OF THE SETTLEMENT ALSO, GUYS, MY SOURCES TELLING ME AT PIMCO WILL NAME A FOUNDER'S ROOM AT PIMCO'S HEADQUARTERS IN NEWPORT BEACH, CALIFORNIA, AFTER BILL GROSS. SO BILL, OBVIOUSLY FILING THAT BIG LAWSUIT, ALLEGED A LOT OF DIFFERENT STUFF THAT WAS FILED BACK IN LATE 2015. WELL, MY SOURCES TELLING ME THE PAPERWORK HAS JUST BEEN FILED TO DISMISS THAT LAWSUIT BECAUSE THEY HAVE REACHED WHAT THEY CALL AN AMICABLE SETTLEMENT. BETWEEN $75 AND $100 MILLION, A NAME OF A ROOM AFTER BILL GROSS. BILL WILL KICK IN SOME MORE MONEY AND IT WILL GO ALL TO CHARITY. SO LOOKS LIKE THE YEAR AND A HALF LONG DRAMA BETWEEN BILL AND PIMCO, GUYS, HAS FINALLY COME TO A CLOSE.

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