Overview


Steven (Steve) S. Scholes serves as the global operations partner for McDermott’s Litigation Practice Group, and is responsible for managing the day-to-day business operations of the group. His trial practice covers all varieties of securities and other complex commercial litigation. Steve has tried civil, criminal and administrative cases in federal and state courts, and he regularly represents clients before the US Securities and Exchange Commission (SEC), state securities regulators and self-regulatory organizations, such as the Financial Industry Regulatory Authority, the Public Company Accounting Oversight Board and stock, options and futures exchanges. He has served as the partner-in-charge of the Chicago Trial Department and the Firm’s SEC Defense Group.

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Results


  • Represents senior management of PG&E Corporation in shareholder derivative litigation arising out of the San Bruno pipeline rupture
  • Represents a former partner in a private equity firm in an SEC investigation concerning related party transactions the firm entered into with its advisory clients
  • Represents a private equity firm in an SEC investigation concerning the firm’s fees and expenses

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Recognition


  • The Best Lawyers in America 2019, Litigation – Securities
  • Chambers USA 2018
  • Benchmark Litigation 2008 to 2019

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Community


  • American Bar Association, member of the Federal Regulation of Securities Committee, as well as the subcommittees on Criminal Laws and Civil Litigation and SEC Enforcement Matters
  • Association of SEC Alumni
  • Chicago Bar Association, past co-chair of the Securities Law Committee (2001-2002) and of the Securities Law Committee’s Subcommittee on SEC Litigation and Enforcement (1999-2000), as well as member of the Futures Law and the Financial and Investment Services committees

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Credentials


Education
University of Illinois College of Law, JD, cum laude, 1985
Eastern Illinois University, BA, with highest distinction, 1981

Admissions
Illinois

Courts/Agencies
Supreme Court of the United States
US Court of Appeals for the Second Circuit

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