A farmer and “high net worth investor” has lost his High Court challenge against the Financial Services Ombudsman’s decision to reject complaints he made about an investment in which he lost €2m and which he claims he was mis-sold.

U2’s Adam Clayon has settled his legal action against a bank and accountants over alleged negligence and breach of contract arising from the misappropriation by his former personal assistant of substantial funds from his bank accounts.

A High Court judge has clarified what documents related to U2's Adam Clayton's expenses must be disclosed for the musician's action against a bank and firm of accountants over what he claims was a failure to detect that €4.8m was allegedly misappropriated from his bank accounts.

U2 GUITARIST Adam Clayton has sued his bankers and accountants for negligence arising from claims his former personal assistant Carol Hawkins misappropriated a total of €4.8 million from his bank accounts over five years up to November 2009.