Adam Clayton is suing the band’s accountant Gaby Smyth for alleged negligence.
Smyth controls all of U2 group companies and is thought to have been behind the decision to move U2’s publishing operation to Holland in order to avoid Irish taxes. Given the band’s anti-poverty stance, this decision was highly controversial.
Clayton is bringing the negligence claim against Smyth and two accountants in Gaby Smyth & Co., Jill Percival and Pat Cleary. The Bank of Ireland Private Finance is a fourth defendant in the case.
The claim concerns investments made on Clayton’s behalf and professional advice offered by Smyth’s company. The details of the claim are not yet known. Clayton has until July 4 to issue formal summons.
This is the second High Court action from Clayton in the past six months. In January, the court froze the assets of Carol Hawkins, Clayton’s former housekeeper, after claims that she defrauded him of up to $2.18 million.
Clayton had two accountants review his financial arrangement and personal accounts in preparation for the case against his housekeeper, but it is not clear if his claim against Smyth stems from this review.
Clayton’s move adds to the band’s already mounting troubles as Bono suffered a back injury that brought thier 360 tour to a halt.