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News

U2 bassist sues over financial mismanagement


Date of News: 2010-06-16
Source: bigpondmusic

Adam Clayton, the long-time bassist with Irish rockers U2, has stepped away from his bandmates to begin legal proceedings against the “I Will Follow” outfit’s former financial controller.

The 50-year-old bassist is suing Gaby Smyth, filing papers in the Dublin High Court this week accusing the band’s former employee of negligence. While the rest of his bandmates – singer Bono, drummer Larry Mullen Jr and guitarist the Edge – have chosen to keep quiet on their monetary woes, Clayton is unhappy over Smyth’s management of the band’s cash. That includes Smyth’s controversial decision to move the band’s publishing company offshore to Holland, in order to avoid paying Ireland’s high tax rate.

The move didn’t go down well at all in their home country, with the multi-millionaire band heavily criticised in the wake of Bono’s push for anti-poverty campaigns.

Clayton also recently sued his former housekeeper, Carol Hawkins, and his personal assistant, after he discovered they’d spent over AUS$2.8 million of his money on a racehorse and apartment.

With 22 Grammy Awards to their name throughout their 30+ year career, U2 were recently forced to cancel a headlining Glastonbury slot after Bono underwent back surgery.

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