Steven S. Steve Scholes

Steven S. Steve Scholes

Criminal Defense: White-Collar

3.0 (1 reviews)
Chicago, Illinois
40+ years experience
McDermott Will & Schulte
Updated:

Contact Information

444 West Lake Street, Chicago, IL 60606-0029
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Bio

Steven (Steve) S. Scholes is the global head of McDermott’s Litigation Practice Group. His practice focuses on SEC investigations, shareholder litigation, including class and derivative actions, and internal investigations. Steve is an experienced trial lawyer, and he has tried civil, criminal and administrative cases in federal and state courts. He regularly represents clients before the Securities and Exchange Commission, 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 global operations partner for the Firm’s Litigation Practice Group and the partner-in-charge of both the Chicago Trial Department and the Firm’s SEC Defense Group.Read full biography: https://www.mwe.com/people/scholes-steven-s/ Steven (Steve) S. Scholes is the global head of McDermott’s Litigation Practice Group. His practice focuses on SEC investigations, shareholder litigation, including class and derivative actions, and internal investigations. Steve is an experienced trial lawyer, and he has tried civil, criminal and administrative cases in federal and state courts. He regularly represents clients before the Securities and Exchange Commission, 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 global operations partner for the Firm’s Litigation Practice Group and the partner-in-charge of both the Chicago Trial Department and the Firm’s SEC Defense Group.Read full biography: https://www.mwe.com/people/scholes-steven-s/ Steven (Steve) S. Scholes is the global head of McDermott’s Litigation Practice Group. His practice focuses on SEC investigations, shareholder litigation, including class and derivative actions, and internal investigations. Steve is an experienced trial lawyer, and he has tried civil, criminal and administrative cases in federal and state courts. He regularly represents clients before the Securities and Exchange Commission, 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 global operations partner for the Firm’s Litigation Practice Group and the partner-in-charge of both the Chicago Trial Department and the Firm’s SEC Defense Group. Read full biography: https://www.mwe.com/people/scholes-steven-s/

Practice Areas

Criminal Defense: White-Collar

Awards & Recognition

  • Lawyer of the Year: Litigation - Securities, Chicago (2023)
  • Lawyer of the Year: Litigation - Securities, Chicago (2020)
  • Recognized: Criminal Defense: White-Collar
  • Recognized: Litigation - Securities
  • Practice Area: Commercial Litigation
  • Practice Area: Litigation - Regulatory Enforcement (SEC, Telecom, Energy)

Recognized in Best Lawyers since 2019

Education

  • University of Illinois Chicago, John Marshall Law School, J.D., graduated 1985

Reviews

C

Cynthia Walker

2 weeks ago

Adequate representation in a complex securities matter

I engaged Steve Scholes and his team at McDermott Will & Emery following an SEC inquiry related to my role as a board member of a publicly traded company. Given his profile as the global head of litigation and his specific recognition in securities litigation, my expectations were understandably high. There is no question about his deep expertise; his forty years of experience and his Lawyer of the Year accolades in this precise field were evident in the strategy he developed. The matter was resolved without formal action, which was the primary goal. However, the experience was not without its frustrations. While Steve himself was incisive in our few direct meetings, day-to-day communication was often handled by junior associates, and responses to non-urgent emails could take several days. The billing structure, while standard for a firm of this caliber, felt rigid, and at times it was difficult to gauge the value of certain workstreams. For someone of his stature in Chicago's legal community, I anticipated a more consistently hands-on approach. He is undoubtedly a formidable attorney for high-stakes SEC investigations and shareholder litigation, but the client service experience felt more transactional than partnership-oriented.

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