Cook County Record

Saturday, August 17, 2019

The PrivateBank and Trust Co. sued by former employee

By Whitney Brakken | Jan 13, 2014

A former bank employee is suing over claims he was fired after reporting wrongdoing.

John Paul Sweeney filed a lawsuit Oct. 22 in the Cook County Circuit Court against The PrivateBank and Trust Co., citing retaliatory discharge, conversion, breach of contract and violations of the state's Whistleblower, Attorneys Fees in Wage Actions and Wage Payment and Collection acts.

According to the complaint, Sweeney worked in the defendant's trust department from February 2002 until July 18. The plaintiff states when he was hired, part of his salary consisted of restricted stock and stock options.

Contrary to his employment offer, Sweeney claims PrivateBank did not grant the stock to him until 19 months after his employment began, and as a result, he lost the benefits that the stocks would have provided during those months.

Sweeney contends he also expressed concern that PrivateBank and the trust department were handling some things incorrectly. Sweeney claims he initiated a meeting to notify the head of Risk Management about these issues and was terminated few days later.

He is seeking damages in excess of $50,000 and is being represented in the case by Joseph P. Shannon of Shannon Law Group P.C.

Cook County Circuit Court Case No. 2013L011659.

This is a report on a civil lawsuit filed at the Cook County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note that a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it represents only one side of the story.

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