U2’s Adam Clayton Seeking Millions in Misappropriated Funds Lawsuit
From early 2005 to late 2009, U2 grossed boatloads of money from their Vertigo Tour and every-bit-as-massive 360 Degree Tour.
At the same time, bassist Adam Clayton claims he was losing big bucks, too. Clayton says his personal assistant back then misappropriated $7.5 million of his hard-earned money, and now Clayton is suing all of the parties believed to be involved.
According to Clayton, then-assistant Carol Hawkins took his funds over a five-year stretch that actually started prior to the March 2005 launch of U2's Vertigo Tour. Clayton has filed a lawsuit against Hawkins, who reportedly has already admitted to using Clayton's credit cards and taking about $16,500 of his money without authorization.
He's also filed suit against Bank of Ireland Private Banking and the accounting firm Gaby Smyth & Co. As for damages, Clayton is looking for about $7 million from the bank and the reported missing $7.5 million from the accounting firm. A ruling is expected in the next few weeks.
This is not the first time Clayton has had a legal beef with Gaby Smyth & Co.; he sued the firm after its 2007 relocation of U2's song publishing company to Holland.