Heat the olive oil in a large skillet with a tight-fitting lid over medium heat; add shallots, garlic and mushrooms; sauté until tender, about 5 minutes.
Add Swiss chard; reduce heat, cover and cook for 3 minutes then turn the chard over so that the uncooked leaves are on the bottom and the wilted leaves are on the top. Cover and cook until completely wilted, about 3 minutes.
Arrange on dinner plates and top with a sprinkle of Parmesan cheese and black pepper.