A former chief executive officr of First Banks filed a retaliatory discharge suit against the company he once ran, in St. Clair County Circuit Court on Sept. 28.
Denis O'Brien claims he was hired in 1996 and performed his duties until July 1, 1999, when his employment was terminated.
"First Banks breached the contract with O'Brien by terminating his employment without good cause, by depressing the value of the stock options which were promised to O'Brien under the contract, and by failing to pay O'Brien the compensation which was promised to him under the contract," the complaint states.
O'Brien claims the breach of contract has caused him to suffer damages in excess of $50,000.
He is represented by Jeffrey Muskopf of Belleville and Thomas LeChien also of Belleville.
05 L 564 (20th Circuit)