Former Arsenal stakeholder Lady Nina Bracewell-Smith has settled a negligence claim brought against magic circle firm Linklaters. A settlement, the terms of which are confidential, was signed in court last month.
Linklaters declined to comment. Professional services firm Deloitte, which was also targeted in the case, has been contacted for comment.
Bracewell-Smith filed a claim against both firms last year alleging negligence regarding their roles in advising her on the sale of her 15.9% stake in the FA Premier League club to US businessman Stan Kroenke and his company Kroenke Sports Enterprises.
The claim surrounded advice given on loan notes that Bracewell-Smith received in exchange for the stake. She claimed that the siting of the loans in the UK unnecessarily exposed her to £10m of losses, which she would not have been exposed to had the loan notes had been sited offshore.
Until 2011, Bracewell-Smith owned a 15.9% stake in the club and was also a former non-executive director. In 2013, Bracewell-Smith tweeted that she ‘deeply regretted’ selling her shares to Kroenke.