Advertisement

Shearer agrees settlement in High Court case against Suffolk firm

Alan Shearer reaches a settlement in a High Court case he brought against a Suffolk firm

Former England football star Alan Shearer has agreed a settlement after claiming he was given "negligent" financial advice and launching a nine million pound High Court damages claim.

Mr Shearer, 46, had sued financial adviser Kevin Neal and pension specialist Suffolk Life.

Mr Justice Leggatt started overseeing a trial at the High Court in London on Wednesday, but a lawyer representing Shearer told the judge on Thursday that an agreement had been reached between the star, Mr Neal and Suffolk Life

Barrister Gerard McMeel said the terms of the agreement were confidential. Lawyers had indicated that the case centred on a Shearer pension worth around four million pounds.

Shearer, now a media football pundit, complained about investment advice he was given and said he had lost millions of pounds.

He claimed Mr Neal was "careless" and "dishonest" and that Suffolk Life breached fiduciary and regulatory duties.

Mr Neal and Suffolk Life, based in Ipswich, disputed his allegations.

Mr Neal told Mr Justice Leggatt the claims were "just driven by pure greed and ego