Overview
Jeffrey E. Stone is a nationally recognized trial lawyer who has tried over 40 federal and state jury trials to verdict, in addition to having tried dozens of bench trials, arbitrations and contested regulatory hearings. A Fellow and Regent of the American College of Trial Lawyers, he concentrates his practice on white-collar criminal defense, complex commercial litigation, internal investigations, and counseling to boards of directors and senior business executives.
In his over 40 years as a trial lawyer, he has represented corporations, boards of directors, board committees, executives and other individuals in a variety of complex civil litigation and criminal prosecutions involving a broad range of industries, including health care, manufacturing, Tobacco, high technology and financial services. He has been named one of the top trial lawyers in the country by Lawdragon 500 and has been ranked for many years in Chambers and Best Lawyers in America for Bet–the–Company Litigation, Commercial Litigation, and White-Collar Criminal Defense. He is consistently named one of the Top 10 Lawyers in Chicago.
During his 32-year tenure at McDermott, Jeffrey has served as chairman of the Firm, Global head of McDermott’s Trial Department and head of the White-Collar Criminal Defense Practice Group.
A frequent teacher on both law and leadership, Jeff has taught trial advocacy at Harvard Law School, as an Adjunct Professor at Northwestern University School of Law, and at the US Attorney General’s Advocacy Institute in Washington, DC. He has served as an Adjunct Professor at the Kellogg School of Management at Northwestern University teaching leadership. In 2022, Jeff co-taught at Stanford Law School on developments in the law that are emerging after the Supreme Court’s decision overturning Roe v. Wade.
Prior to joining McDermott, Jeffrey served in the US Attorney’s Office in Chicago as an Assistant US Attorney, concluding his tenure as deputy chief of the Criminal Receiving and Appellate Division. As an Assistant US Attorney, he tried numerous federal jury trials in the area of white-collar crime, focusing on complex financial crime, fraud, public corruption and tax prosecutions. He also argued and supervised numerous cases before the US Court of Appeals for the Seventh Circuit. From 1983 to 1984, he served as a law clerk to Chief Judge Robert F. Peckham of the US District Court in San Francisco.
Results
- Represented the former CEO of a global health care company in a landmark criminal antitrust case: the first-ever prosecution of a business executive alleged to have participated in a conspiracy to allocate the hiring of executives between competitors. After a three-week trial, the jury acquitted both the former CEO and the company on all counts
- Represented a private global philanthropic foundation that funds not-for-profit organizations providing reproductive health services
- Represented the Special Committee of an NYSE company in connection with allegations of Board self-dealing and in connection with Delaware Chancery Court litigation
- Represented the Board of Directors of a national utility company in a far-reaching criminal investigation in which the former CEO and other senior executives of a subsidiary were charged in a federal indictment with various counts of public corruption and fraud in their dealings with the Speaker of the Illinois House of Representatives
- Represented a senior partner of one of the world’s largest private equity funds in connection with allegations of mail/wire fraud
- Represented a senior partner of one of the world’s largest private equity funds in connection with an investigation into allegations of securities fraud and insider-trading
- Represented numerous senior partners of various private equity funds in connection with their departures from their existing firms
- Represented the Illinois Judicial Inquiry Board in a prosecution of the Chief Justice of the Illinois Supreme Court which led to his resignation as Chief Justice
- Represented the Illinois Judicial Inquiry Board in a prosecution and trial of an Illinois Circuit Court judge in what was one of the first-ever prosecutions of a sitting judge for sexual harassment, leading to removal from the bench
- Represented one of the world’s largest media companies in a dispute over a multi-year leasehold interest
- Represented a leading global dialysis provider in nationwide litigation and regulatory compliance, including high-level criminal matters, False Claims Act cases, internal investigations, complex commercial and multi-district class actions, property and liability insurance matters, and other health care litigation
- Represented a consortium of the largest tobacco manufacturers in the world in a series of over 30 nationwide arbitrations in issues arising out of the Master Settlement Agreement of nationwide class action litigation brought by 46 states
- Represented the Audit Committee of a Fortune 500 national travel services company in a prolonged SEC investigation
- Defended a Fortune 500 sportswear and equipment supplier against a whistleblower action alleging failure to collect/remit sales/use tax on shipping and handling charges
- Represented a chemical manufacturer in connection with a federal criminal investigation related to alleged criminal wrongdoing and falsifications under the Clean Water Act, Clean Air Act, Resource Conservation and Recovery Act, Safe Drinking Water Act, and Emergency Planning and Community Right-to-Know Act
- Represented an international health care company in a multi-year federal criminal and civil investigation
- Represented a senior executive of a Fortune 100 auto manufacturer in criminal and civil matters arising out of a worldwide automobile recall
- Represented a senior executive of a Fortune 100 international oil company in connection with criminal and civil environmental investigations
- Represented the Audit Committee of a global health care company in a prolonged SEC investigation
- Represented a senior executive of an international construction company in a federal criminal investigation
- Represented a senior business executive in a prolonged federal criminal tax investigation which, after a two-week jury trial, resulted in a verdict of not guilty on all counts
Recognitions
- American Lawyer Litigation Daily, Litigators of the Week
- Chambers USA, General Commercial Litigation and White-Collar Criminal Defense, 2003-2024
- Best Lawyers in America, Bet-the-Company Litigation, 2010-2025, Commercial Litigation, 2006-2025, Criminal Defense: White-Collar, 2018-2025
- Crain’s Chicago Business, Notable Litigator and Trial Attorney, 2023
- Chambers Global, 2019
- Lawdragon, Top 500 Litigators in America
- The Legal 500, 2019 and 2022
- Who’s Who Legal: Illinois
- Stanford University, recipient of the Gold Spike Award, Stanford’s highest award for lifetime volunteer service to the University (2016); inaugural recipient of The Stanford Medal for distinguished and sustained alumni service (2006)
- American Jewish Committee, Human Rights Medallion for service in defense of civil liberties and human rights, 2010
Community
- American College of Trial Lawyers, Fellow and member of the Board of Regents
- American Jewish Committee, Board of Governors; member of Executive Council; chair of International Relations Commission
- Attorneys’ Liability Assurance Society (ALAS), Board member and past Chairman of the Board of Directors
- The American Law Institute, member
- Campaign for Justice, chaired annual Chicago-wide campaign in support of local pro bono and civic legal activities
- Center on Wrongful Convictions, Advisory Board member
- Lawyers’ Committee for Civil Rights Under Law, served as a national trustee
- Legal Action Chicago, Chairman of the Board of Directors and co-founder
- Illinois Judicial Inquiry Board, served as outside counsel (1996 to 2000)
- Jewish Family and Community Services agency, past president
- Jewish Federation of Metropolitan Chicago, served as board member
- National Institute of Trial Advocacy, faculty member
- Northwestern University, adjunct professor, Kellogg School of Management (leadership); adjunct professor, Pritzker School of Law (trial advocacy)
- Stanford University
- Board of Trustees, member
- Committee on External Relations, chair
- Stanford Fund, national chairman (responsible for all annual giving to Stanford University)
- Stanford LEAD Council, founder and co-chair (identifying and nurturing future leaders)
- Stanford’s $1 billion Campaign for Undergraduate Education, former vice chair
- Stanford on Purpose Campaign Steering Committee, member
- Overseas Studies Board of Advisors member
- Advisory Council the Task Force on Undergraduate Education
- US Supreme Court Historical Society, member of Board of Directors
Credentials
Education
Harvard Law School, JD, cum laude, 1983
Stanford University, BA, with honors and distinction, 1978
Admissions
Illinois
Courts / Agencies
Supreme Court of the United States
US Court of Appeals for the Seventh Circuit
US District Court for the Northern District of Illinois (trial bar)
