The document, which was dated December 2011, outlined a number of serious concerns that Hunt had with the running of the club and it also called for the sacking of manager Steve Kean.
Shearer is both angry and sad at the owners' "awful stewardship" at Ewood Park.
He wrote his column in The Sun: "What an ugly, sorry, sad sight it all was.
"The awful stewardship of Venky's has finally delivered its sorry conclusion.
"Their abject lesson in how not to run a football club should be documented and sent out as a warning to all other teams."
Shearer scored 112 goals in 138 league appearance for the Lancashire club between 1992 and 1996, helping them lift the Premier League title in 1995.