Newcastle United legend Alan Shearer reaches settlement in £9m High Court damages claim

Newcastle United legend Alan Shearer has agreed a settlement after claiming he was given "negligent" financial advice and launching a £9 million High Court damages claim.

By The Newsroom
Thursday, 15th June 2017, 3:21 pm
Updated Friday, 16th June 2017, 11:18 am
Newcastle United hero Alan Shearer.
Newcastle United hero Alan Shearer.

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 with former England international striker Shearer originally expected to give evidence on


But a lawyer representing Shearer told the judge 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 £4 million.

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

He said 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".

Suffolk Life lawyers said Shearer faced "very serious obstacles".

Shearer, who comes from Newcastle, stopped playing in the top flight more than a decade ago after a soccer career spanning 18 years.

He made more than 600 appearances in top-level club football and won more than 60 England caps.