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McDermott Will & Schulte

McDermott Will & Schulte

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United States • Dispute resolution

3

Securities litigation: defense

With in-depth expertise in private shareholder disputes, SEC investigations, and parallel proceedings, McDermott Will & Schulte has an established client base of those in the cryptocurrency industry sector, representing their boards, executives, and occasionally sponsors. The firm is led by the trio of Steven Scholes, Timothy Hoeffner and David Momborquette. Engaged in derivative suits, and M&A-related disputes, as well as internal investigations and proceedings before the Securities and Exchange Commission, is Scholes, who has acted on mandates advising those involved in accounting irregularities, illegal trading, and breaches of fiduciary duty. Hoeffner defends accounting firms, whilst Momborqutte regularly advises hedge funds and private equity firms. Jared Gerber joined as a partner from Cleary Gottlieb Steen & Hamilton in February 2025.
Legal 500 Editorial commentary

Accolades

Client satisfaction: Lawyer & team quality
Client satisfaction: Billing & efficiency
Client satisfaction: Sector knowledge
Client satisfaction: NPS ®

Testimonials

Collated independently by Legal 500 research team.

  • ‘The team is incredibly competent, extremely cordial and very supportive. ’

  • ‘Paul Helms and Steven Scholes are a joy to work with. Extremely knowledgeable, tremendously helpful and have a knack for making their clients feel welcomed and heard. In addition, both partners are tremendous at making sure you are at ease, informed and comfortable throughout the process. Both partners are great lawyers with years of experience and expertise, both with a great sense of humor and are excellent storytellers. ’

  • ‘Steven Scholes has put together an excellent team to work on an incredibly complex set of litigation matters. He is an outstanding communicator of complex issues, providing neither too much nor too little detail.’

  • ‘The securities litigation defense practice performs at the highest level and is easily one of the top practices in the space. They have extensive SEC regulatory and litigation defense experience and are top practitioners.’

  • ‘The top attorneys in that practice are Steven Schole and Paul Helms. Both outstanding.’

  • ‘Quick, pragmatic, insightful, and balanced is how I would describe the advice provided.’

Key clients

  • Andrew Hall
  • Argo Blockchain, PLC
  • BDO USA, P.C.
  • Deloitte and Touche LLP
  • Dentsply Sirona/Bret Wise and Chris Clark
  • Enzo Biochem, Inc.
  • FGMK, LLC
  • First Energy
  • Forge Trust Company
  • Inspired Entertainment
  • Oak Management Corporation
  • PG&E

Work highlights

Representing eight current and former officers and directors of PG&E Corp. in a securities class action alleging misrepresentations related to the company’s wildfire safety practices, with estimated damages exceeding US$18 billion.
Representing longstanding client, BDO USA P.C. in a high-stakes putative securities class action claim involving allegations of audit failures and material misstatement in connection with AmTrust Financial’s public filings (In re AmTrust Financial Services Inc., Securities Litigation (2d Cir.)).
Advising Robert Reffner (Former Chief Legal Officer of FirstEnergy Corp.) on a federal securities class action, derivative action, SEC investigation, and state and federal criminal investigations involving allegations that FirstEnergy engaged in a years-long corruption scheme to influence Ohio legislation and regulatory actions in its favor.
Practice head

Steven S. Scholes; David Momborquette

Other key lawyers

Paul M.G. Helms; Caitlyn M. Campbell; Joel C. Haims; Jared Gerber