With offices in New York and DC, Schulte Roth & Zabel is praised by peers for its “very high-quality” work, primarily in the financial services sector. The firm is noted for its novel mix of practice concentration, its cutting-edge client base and its approach to cases. “Schulte has really come to dominate in certain areas,” observes one peer. “They have always been a go-to for private equity and hedge funds, and now they have cornered the market in areas like cryptocurrency as well.” Cases in these areas are noted often for imposing “steep learning curves that demand a fast-moving and forward-leaning approach to litigating them effectively,” in the words of one peer, concluding “Schulte delivers.” Another notes, “You’ve got to understand – Schulte has a very different client base than a lot of big New York firms, and these are clients that are more willing to litigate hard and take gutsy positions.” The firm’s demonstrated strengths in the securities and white-collar areas have been prominently on display in a number of matters for a diverse spectrum of clients. A peer testifies, “I've worked with SRZ litigators on a variety of litigation matters over the years. Most recently, we've been looking at cross-border securities litigation matters. The partners there have a range of skills that range from litigation to structuring and tax.” Schulte is also actively growing its “next-generation” ranks; this past year it has brought on a new “young hot-shot” partner
Julia Beskin from her former post at Quinn Emanuel.
In addition to a vibrant general commercial and securities practice, New York’s
Michael Swartz is the co-head of the firm’s litigation practice and has emerged as one of the foremost authorities on cryptocurrency litigation. This niche acumen was on display when Swartz logged a huge win for Pantera Capital, which purportedly established the first bitcoin fund in the US, in a battle with another top cryptocurrency investment fund manager, Polychain Capital. After Polychain learned that Pantera, a 5% owner of Polychain, had formed its own, competing Initial Coin Offering fund in the liquid altcoin space, Polychain reacted by amending its operating agreement to give it the ability to terminate Pantera’s ownership interest for cause on the ground that it competed with Polychain. Following a week-long hearing, Pantera prevailed in July 2022. In January 2023, the Chancery Court issued a final judgment that awarded Pantera all of its fees incurred in the Chancery Court action plus interest, amounting to more than $7 million. Swartz also (along with increasingly prominent future star
Taleah Jennings) represents Eric Bischoff in two litigations concerning an ownership among the shareholders – all family relations of the client – of the Boar’s Head cold cuts company. “Michael Swartz is a go-to on ‘the Street’ for shareholder activist litigation,” testifies a peer. Also based in New York, Robert Ward represents Denver Wewatta, an affiliate in the LCN Capital Partners portfolio, in a dispute concerning a purchase agreement for a major commercial with an affiliate. Ward also represents Aero and its affiliates, who commenced litigation in Delaware Superior Court, raising contract claims arising out of a purchase agreement on behalf of affiliates of private equity firm Mill Point Capital against the seller of a company acquired by Mill Point’s Aero affiliates. Ward is championed by peers not only for his acumen but also his demeanor; one insists, “Bob Ward is not only a great litigator but also just one of the nicest. He stays calm, which, when you’re dealing with hard-fought New York commercial real estate matters, is not always easy to do.” Peers also insist, “You’ve got to look at
William Gussman. He cut his teeth on M&A and does a lot of work with Cerberus, which may be Schulte’s biggest client. No one knows the rules and can create an advantage like Bill.”
The firm’s white-collar and securities enforcement practice is commanded by Peter White and Charles Clark, both of whom operate out of New York as well as the firm’s smaller DC office. White and Clark represent Murchinson, a Canadian investment advisor and hedge fund, who bought additional shares issued by a distressed Greek shipping company and resold them to the market. Due to a high level of volatility in the value of these shares, shareholders brought three separate class actions against Murchinson before the Eastern District of New York, alleging fraud. In the wake of the suits, the Securities and Exchange Commission (SEC) also launched an investigation. The Schulte duo leads the client in all three class actions as well as the SEC investigation. White is also, on a pro bono basis, representing prominent Baltimore attorney Ken Ravenell, a near-unanimously revered criminal defense lawyer who has represented some of the city’s highest-profile defendants. Ravenell was arrested and charged following a years-long investigation by the government on allegations of racketeering and money laundering. Based in New York,
Craig Warkol is recognized for his securities enforcement acumen. “He has been at the SEC and has been a US Attorney,” confirms one peer. “I consider him very experienced and talented, skilled and knowledgeable.”
