Alan Shearer agrees High Court deal after suing Ipswich pension firm Suffolk Life for £9m
- Credit: PA
Former England football star Alan Shearer has agreed to a settlement deal after launching a £9million damages claim against an Ipswich pension company and his financial adviser.
Former England and Newcastle striker Alan Shearer has agreed a settlement after claiming he was given “negligent” financial advice and launching a £9million High Court damages claim against a financial adviser and Ipswich-based pension company.
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 Match of the Day pundit, Mr Neal and Suffolk Life.
Shearer said Mr Neal was “careless” and “dishonest” and he says pension specialist Suffolk Life breached fiduciary and regulatory duties.
But Mr Neal and Suffolk Life, which is based in Ipswich, disputed his allegations.
Mr Neal told Mr Justice Leggatt that Shearer’s claims were “just driven by pure greed and ego”.
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Suffolk Life lawyers said Shearer faced “very serious obstacles”.
Barrister Gerard McMeel, who led Shearer’s legal team, told Mr Justice Leggatt that claims related to pension investments.
Shearer, who comes from Newcastle upon Tyne, stopped playing in the top flight more than a decade ago after a football career spanning 18 years.
He made more than 600 appearances in top level club football and won more than 60 England caps.