Expanded Bio
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Audra J. Soloway

Partner

Tel: 212-373-3289
Fax: 212-492-0289
asoloway@paulweiss.com

New York
1285 Avenue of the Americas
New York, NY 10019-6064

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.

Experience

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.

Practices
Litigation
Securities Litigation
Pro Bono
Financial Institutions
Corporate Governance
Internal Investigations
White Collar & Regulatory Defense

Education

J.D., New York University School of Law, 2001

magna cum laude, Order of the Coif

B.A., University of Pennsylvania, 1998

summa cum laude, Phi Beta Kappa
Clerkship

Hon. Naomi Reice Buchwald, U.S. District Court, Southern District of New York

Bar Admissions

New York

Related Resources

Feb 21, 2017 | Publications

The D&O Diary Reviews Updated Deskbook on Federal Securities Litigation

Feb 02, 2017 | Publications

Supreme Court Nominee Has Taken Skeptical View of Private Securities Fraud Litigation, Agency Deference

Jan 18, 2017 | Publications

Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures

Jan 17, 2017 | Publications

U.S. Supreme Court To Review Ruling That Class Action Tolling Does Not Apply to Statutes of Repose

Jan 17, 2017 | Publications

U.S. Supreme Court to Review Whether Statute of Limitations Applies to SEC Disgorgement Claims

Dec 07, 2016 | Publications

Supreme Court Reaffirms Dirks, Confirms that a Gift of Information to a Trading Relative or Friend Satisfies Personal Benefit Requirement for Insider Trading

Nov 08, 2016 | Publications

Second Circuit Holds That Parties to Standard Lock-Up Agreements in IPOs Do Not Form a “Group” for Section 13(d) and Section 16(b) Purposes

Oct 27, 2016 | News

Qualcomm to Acquire NXP

Oct 11, 2016 | News

Citigroup Wins Anti-Suit Injunction Precluding Overseas Enforcement of Vacated Arbitration Award

Oct 03, 2016 | News

Former MDC Partners Chief Accounting Officer Wins Dismissal of Securities Fraud Class Action

Oct 04, 2016 | Publications

What to Look for in Tomorrow’s Supreme Court Argument in Key Insider Trading Case

Sep 30, 2016 | Publications

In 'Vivendi' Appeal, Second Circuit Rejects Challenge to “Price Maintenance” Theory of Price Impact

Sep 23, 2016 | Publications

Second Circuit Holds an Employer’s ERISA-Regulated Benefit Plans Are Not “Affiliates” of the Employer-Sponsor for Class Settlement Purposes; Splits with Seventh Circuit

Aug 24, 2016 | News

Citigroup Wins Dismissal of Auction Rate Securities Suit

Jul 22, 2016 | Publications

Second Circuit Expands the IndyMac Rule

Jun 13, 2016 | News

Delaware Chancery Court Dismisses Derivative Action Against lululemon Board and Founder

Jun 02, 2016 | Publications

Walter Rieman, Audra Soloway and Andrew Ehrlich Co-Author Article on American Pipe Tolling in Law360

Jun 03, 2016 | Publications

Second Circuit Rules That Constitutional Challenge to Appointment of SEC Administrative Law Judges Must Be Adjudicated During Review of SEC’s Final Order, and Not in a Separate District Court Lawsuit

May 31, 2016 | Publications

Second Circuit Strikes Down Imposition of $1.27 Billion FIRREA Penalty, Holds That Government Failed to Prove Countrywide Acted with Fraudulent Intent

May 31, 2016 | Publications

Eleventh Circuit Applies Five-Year Statute of Limitations to Claims for Disgorgement and Declaratory Relief, Creating a Circuit Split

May 25, 2016 | Publications

The Sixth Circuit, in Agreement with the Second Circuit, Holds That American Pipe Tolling Does Not Apply to Statutes of Repose

May 16, 2016 | Publications

Supreme Court Rejects Federal Jurisdiction Over State Law Claims That Do Not Necessarily Raise Exchange Act Issues

May 10, 2016 | Publications

U.S. District Court in New Jersey Rules That the Two-Year Limitations Period for Suits to Recover Short-Swing Profits Under Section 16(b) of the Securities Exchange Act of 1934 Is a Statute of Repose That Is Not Subject to Tolling

Apr 13, 2016 | Publications

Eighth Circuit Interprets Halliburton II, Holding That Defendants Successfully Rebutted Fraud-on-the-Market Presumption of Reliance by Showing that the Alleged Misstatements Did Not Cause a Stock-Price Increase

Mar 09, 2016 | Publications

Second Circuit Interprets Omnicare Narrowly, Holding That Issuers Need Not Disclose Information Merely Because It Cuts Against Their Opinions or Projection

Feb 03, 2016 | News

Pro Bono Client Achieves Victory in Housing Case

Dec 09, 2015 | Publications

United States v. Litvak: Second Circuit Overturns Conviction, Holds Defense Is Entitled to Put Forward Expert Evidence on Materiality

Oct 05, 2015 | Publications

Supreme Court Declines To Consider Second Circuit’s Landmark Insider Trading Ruling

Oct 01, 2015 | Publications

Southern District of New York Ruling Highlights That Materiality Is a Meaningful Pleading Obstacle in ’33 Act Cases

Sep 17, 2015 | Publications

Southern District of New York Issues Ruling in AIG Securities Litigation That Increases the Hurdles for Opt-Out Plaintiffs

Jul 27, 2015 | Publications

Litigation Partners Co-Author Bloomberg BNA Article on Confidential Witness Allegations in Securities Fraud Complaints

Jun 19, 2015 | News

Pro Bono Client Wins Criminal Appeal

Jun 03, 2015 | News

Pro Bono Client Obtains Victory in Family Court Trial

May 15, 2015 | News

Second Circuit Affirms Dismissal of Securities Fraud Class Action Against lululemon and Founder

Apr 28, 2015 | News

Court Dismisses Civil RICO Claims Against SAC Capital
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