Adam Clayton is suing Bank of Ireland Private Banking officials and a team of top accountants for alleged negligence in an ongoing cash scandal.
The bassist claims the bankers and Gaby Smyth Co. bosses gave him incorrect information about the alleged misappropriated funds, telling him that he was $18,000 (£11,250) out of pocket - when in fact the figure was closer to $5.9 million (£3.7 million).
According to The Irish Independent newspaper, Clayton claims his formerpersonal assistant, Carol Hawkins, took the money over a five-year period.
He is suing Hawkins, who was charged with 184 theft and fraud charges last year (11), separately.
The bass player is seeking almost $7 million (?4.4 million) in damages.
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