Criminal charge in background check

Going through the toughest time and seeking guidance. I’ll keep it brief. Non target background with 2 years of MM IB, 2 years of MM PE at shop A and another 2 years of MM PE at shop B. Was let go due to macro conditions from MM PE B approx 3 months ago. Not interested at all in the MBA route.

Last week I was charged, arrested and booked with both a felony charge and a misdemeanor charge for assault and wounding (not in NY). I did not commit this crime as I was not even present at the location of crime. I hired an attorney for my defense and have provided him with all the evidences. He mentioned the state prosecutor will drop the charges before trial date (late November) given the charges are complete sham. My prior traffic/civil/criminal record is clean. I will also get this charge expunged upon case dismissal.

I am going through a number of mid to late stage PE VP/Sr Assoc interviews through a couple of usual HHs

- Do I disclose this to the head hunters? (I am sure this will mean an end to the professional relationship with that HH firm). 

- Do I explain this to HR after I get the conditional offer but before the background check?

- How do they impact my prospects of staying in MM PE?

- Do dismissed felony and misdemeanor charges show up on background checks?

- Anything I can do to make this situation better from a career standpoint?

- Anything else I should keep in mind?

Thanks and appreciate all the help