PNC Bank alleges Florida employee took client info before starting competing wealth management firm

By Louie Torres | Apr 21, 2017

PITTSBURGH - PNC Bank is suing Matthew Pietzak, a former employee of its asset management group, citing alleged breach of contract for taking confidential information before leaving his job.

PNC Bank National Association filed a complaint April 13 in the U.S. District Court for the Western District of Pennsylvania alleging that the former employee, who lives in Florida, misappropriated confidential information from the plaintiff upon his departure in order to start a competing asset management group.

According to the complaint, the plaintiff alleges it sustained damages from having its confidential information stolen. The plaintiff holds Pietzak responsible because he allegedly breached his contractual agreement with the plaintiff by taking confidential information for his own benefit, including client information.

The plaintiff seeks to enjoin the defendant and order the defendant to return all property to the plaintiff, as well as all profits, compensatory damages, incentive compensation, benefit costs, a $100,00 incentive advance payment made to Pietzak, punitive and/or exemplary damages, court costs, interest and any further relief the court grants.

The bank is represented by Walter P. DeForest, David J. Berardinelli and Marie A. DeForest of Deforest Koscelnik Yokitis & Berardinelli in Pittsburgh.

U.S. District Court for the Western District of Pennsylvania Case number 2:17-cv-00482-DSC

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PNC Bank U.S. District Court for the Western District of Pennsylvania Pittsburgh Division

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