Daryl M. Schumacher
Daryl spent the first ten years of his career practicing at some of Chicago’s largest law firms—most recently as a partner at the Washington, D.C. based firm Steptoe & Johnson. Daryl’s practice focuses on commercial litigation, with a concentration in the area of financial services litigation and regulation. Over the years, Daryl has participated in court and arbitration proceedings in over twenty states. He has represented Fortune 500 companies and individuals before state and federal courts, the Seventh Circuit Court of Appeals, the U.S. Securities and Exchange Commission, the Illinois Securities Department, the New York Stock Exchange, Inc., NASD Dispute Resolution, Inc., the American Arbitration Association and the Financial Industry Regulatory Authority (“FINRA”). Daryl has vast experience representing clients in all phases of litigation, including regulatory investigations, arbitrations, trials and appellate litigation.
Daryl received his law degree from The John Marshall Law School in 1998 where he graduated with high honors and achieved the academic distinction magna cum laude. While in law school, Daryl was a staff editor for The John Marshall Law Review, and participated in the Herzog Moot Court Competition. Daryl was admitted to practice law in the State of Illinois in 1998. Daryl is a member of the Chicago Bar Association and the Illinois State Bar Association, and has served as a committee member of the Illinois State Bar Association’s Young Lawyers Division.
Honors and Achievements
Daryl was named by Illinois Super Lawyers magazine to its list of Super Lawyers each year from 2013-2019. No more than 5 percent of lawyers in the state are recognized as Super Lawyers.
Daryl was named by Illinois Super Lawyers magazine as one of the state’s Rising Stars for 2008, 2011 and 2012. No more than 2.5 percent of lawyers in the state are recognized as Rising Stars.
Representative Engagements and Successes
Daryl obtained a directed verdict on behalf of his client after a week-long jury trial in a case where he defended a financial professional against allegations of unsuitable investments and securities fraud. Babiarz v. Allianz Life Ins. Co. of America, et al., Circuit Court of Cook County, Illinois, No. 2011 L 008552.
Daryl successfully defended a broker-dealer in a FINRA arbitration involving allegations of unsuitable investments and securities fraud.
Daryl obtained summary judgment on behalf of defendant/investment adviser in connection with investments in collapsed hedge fund. Court entered judgment in defendants' favor and dismissed the case. Shailja Gandhi Revocable Trust (Nov. 6, 2002), et al. v. Sitara Capital Management, LLC and Patel,Northern Dist. Ill. No. 09 C 3141. Plaintiffs appealed the case to the United States Court of Appeals for the Seventh Circuit and Daryl successfully defended the appeal;
Daryl obtained summary judgment against control person for plaintiffs who invested in a Ponzi scheme. Court entered judgments that collectively exceeded $2 million.
Daryl obtained $4 million and $2.8 million judgments on behalf of investors who lost money in connection with Ponzi schemes.
Daryl successfully represented two clients seeking to participate in a $1 billion class action settlement involving the economic and trading rights of members of the Chicago Board of Trade in the wake of the merger between the Chicago Board of Trade and the Chicago Mercantile Exchange.
Daryl has secured the dismissal of enforcement proceedings which the Illinois Securities Department initiated against financial industry professionals.
Daryl regularly represents clients seeking to pursue or defend claims involving the enforcement of covenants not to compete or other restrictive covenants.
Daryl frequently represents clients in cases involving the theft of trade secrets.
Daryl represents numerous retail securities customers victimized by fraudulent conduct in connection with the handling of their investment accounts.
Daryl represents hedge funds and other companies accused of violations of state and federal securities laws.