ProfessionalsAudra J. Soloway
A partner in the Litigation Department and co-chair of the Securities Litigation and Enforcement Group, Audra J. Soloway focuses her practice on securities litigation, corporate internal investigations, and enforcement proceedings and regulatory defense. Audra has extensive experience representing companies and their officers and directors in shareholder class actions, derivative litigations, and individual actions, as well as arbitrations. Audra also represents clients in investigations and enforcement proceedings brought by the Securities Exchange Commission and state securities regulators.
Audra also speaks and writes extensively about the federal securities laws. She has authored dozens of articles, and is a co-author of the treatise Federal Securities Litigation: A Deskbook for the Practitioner, 3rd edition.
Significant representations include:
- AIG, in a shareholder lawsuit concerning allegations of accounting fraud and bid rigging;
- Bank of America, in litigations by shareholders, the SEC, and the New York Attorney General arising out of its $50 billion merger with Merrill Lynch;
- The Citco Group of Companies, in litigation filed by investors in hedge funds that collapsed during the credit crisis;
- Citigroup in multiple matters, including:
- Regulatory investigations and civil litigations relating to the sales and marketing of the ASTA/MAT and Falcon hedge funds;
- Class action litigation filed by investors in CSO hedge fund, concerning its disclosures to investors following a significant debt transaction;
- A series of FINRA arbirtrations and federal and state court actions by issuers of auction rate securities alleging that Citigroup had failed to disclose the risks of these products in advance of the market collapse in 2008;
- Defense of securities fraud class actions against Citigroup and Jack Grubman relating to research coverage of the telecommunications industry, including WorldCom;
- Steven A. Cohen and SAC Capital (now Point72 Asset Management), in civil and regulatory matters alleging insider trading, including, most recently, class action litigation filed by a class of contemporaneous traders alleging insider trading in the securities of Elan and Wyeth;
- HCP, a REIT invested primarily in real estate serving the healthcare industry, in class action and derivative litigation alleging misstated disclosures about the company's financial condition and portfolio;
- Santa Barbara Hospitality, a Curacao hotel owner, in obtaining a victory at arbirtration in a dispute with Hyatt concerning the hotel's management;
- Sealed Air Corporation, a Fortune 500 packaging company, in class action litigation filed by shareholders alleging misstatements about potential liabilities related to its acquisition of the W.R. Grace packaging business;
- Nicholas Schorsch, the founder and former CEO of American Realty Capital Properties (ARCP), in class action and individual securities fraud cases and derivative litigations concerning ARCP's accounting restatement; and
- Chip Wilson, the founder and former CEO of Canadian athletic-wear manufacturer lululemon athletica, in securities fraud class action and derivative litigation concerning disclosures of product recalls.
Audra is also active in pro bono work and the community. She co-chairs the firm's Public Matters Committee and oversees our Community Outreach Program, "Paul, Weiss Cares." She devotes hundreds of hours each year to pro bono work, and has secured important victories in particular for organizations and families involved in the New York City child welfare system. Audra also serves on the Board of Directors of The Legal Aid Society.