Aurora Cassirer

Partner | Litigation

About

Aurora is a Litigation partner at Pierson Ferdinand, and has had substantial experience in securities fraud class actions, breach of contract, internal investigations, fraud, and restructuring matters.

  • She has counseled pharmaceutical companies, cyber security firms, private equity funds, start-ups, medical technology companies and various financial institutions on compliance, FCPA, privacy, and whistleblower issues. In the area of professional liability, she has defended professional liability claims against actuaries, attorneys, and consultants. Among her international clients, she has represented clients based in Israel, Korea, India, and China in disputes before U.S. courts or in arbitrations.

    Aurora currently serves as co-chair of the International Corporate Compliance Committee of the New York State Bar Association, and has frequently lectured and written on AI issues, securities litigation against pharma and medical device companies, whistle-blower claims, internal investigations and attorney-client privilege issues.

Practices

  • Commercial Litigation

  • Environmental, Health, and Safety

  • Litigation and Risk Management

  • Securities and Private Equity

  • White Collar Defense & Investigations

  • Securities and Derivative Litigation

Admissions

  • New York

  • New Jersey

  • U.S. District Court, Southern District of New York

  • U.S. District Court, Eastern District of New York

  • U.S. District Court, Northern District of New York

  • U.S. District Court, District of Columbia

  • U.S. Court of Appeals, Second Circuit

  • U.S. Court of Appeals, Third Circuit

  • U.S. Court of Appeals, Ninth Circuit

  • Supreme Court of the United States

Education

  • New York University School of Law

  • Brooklyn College of the City University of New York

Rankings and Recognition

  • Listed in Law & Politics’ New York Super Lawyers – Metro Edition (2008-2022) for excellence in Business Litigation

  • AV Preeminent®, Martindale-Hubbell

  • 2008 Honoree of the United Way of New York City’s Women United in Philanthropy

Board Memberships

  • Member, Board of Directors of NanoVibronix Inc. (NASDAQ: NAOV)

  • Member, Advisory Board of LiveCare Corp.

Board Memberships Not for Profits

  • Member, Board of Directors of Kids In Need of Defense, KIND

  • Member, Board of Governors of Jerusalem College of Technology (Machon Lev)

  • Member, Board of Directors, American Friends of Jerusalem College of Technology

  • Member, Board of Directors, NY Lawyers for the Public Interest (2009-2011)

Professional and Community Involvement

  • Member, Departmental Disciplinary Committee for the First Judicial Department (Supreme Court Appellate Division) (2008-2013)

  • New York State Bar Association’s International Section Co-Chair, International Corporate Compliance Committee (2014-to date)

  • Member, Commission on Fiduciary Appointments (Birnbaum Commission) (2004-2005)

  • American Bar Association, Section of Litigation

  • New York State Women’s Bar Association

  • Member, NYWBA Judiciary Committee

Experience

  • FisherBroyles, LLP

  • Troutman Pepper Hamilton Sanders

  • Jenkens & Gilchrist

  • Parker Chapin

Representative Matters

  • Won dismissal of shareholder securities class action filed against Ohr Pharmaceutical, Inc., and its officers and directors, alleging misstatements and/or omissions in SEC filings in violation of Section 10(b) and 20(a) of the Securities and Exchange Act of 1934. See Khanna v. Ohr Pharmaceutical, Inc. et al., No. 1:18-cv-01284-LAP, 2019 WL 4572765 (S.D.N.Y. Sept. 20, 2019). The Second Circuit affirmed. Lehmann v. Ohr Pharmaceutical, Inc. et al., Case No. 18-3486 (2d Cir. Oct. 9, 2020). The Second Circuit has affirmed that District Court order as well. Lehmann v. Ohr Pharmaceutical, Inc. et al., Case No. 20-4185-(2d Cir. Dec. 23, 2021). Also represented Ohr Pharmaceutical, Inc. in related derivative actions in New York federal and state courts.

  • Acted as Receiver (and Monitor for a brief period of time) in SEC v. Kenneth Ira Starr, Starr Investment Advisors, LLC ,and Starr & Co, LLC, United States District Court for the Southern District of New York, 10 Civ. 4270 (SHS), a fraud case involving numerous claimants and at least $59 million in damages. June 2010-January 2012.

  • Acted as Trustee in bankruptcy in connection with a real estate Ponzi scheme where the estate consisted of close to $300 million and recovery to the creditors was approximately 40%. (In re Schick, Chapter 11, Case Nos. 96 B 42902 (SMB), 96 B 43969 (SMB) 96 B 46282 (SMB) (Jointly Administered) Chapter 11, Case No. 96 B 45033 (SMB). Issues included those relating to fiduciary liability, professional liability, secured transactions, money laundering, fraudulent conveyances.

  • Obtained a unanimous, New York State appellate court (First Department) decision affirming a trial court’s dismissal, with prejudice, of a complaint against our clients, directors and officers of a privately held Israeli company, alleging that they fraudulently induced the plaintiff, an investment vehicle of a billion dollar private equity fund, to invest in the company. See MP Cool Invs. Ltd. v. Forkosh, 650730/15, 2016 NY Slip Op 04159 (1st Dept. May 31, 2016). The appellate court decision clarified legal principles concerning fraud claims brought by sophisticated entities and thus was featured on various news media, including the front page of the New York Law Journal.

  • Represented a publicly traded company in a derivative action brought by a minority shareholder, who alleged that the Board had, inter alia, breached its fiduciary duties by entering into a merger transaction and focusing solely on a discredited patent infringement strategy. The Court granted the motion to dismiss in its entirety. See Lapin v. Fagenson et al., Index No. 504707 – S. Ct. Kings Co. February 2016).

  • Represented the technology transfer arm of an Israeli University in an action which arose out of a Research and License Agreement dispute. Motion to dismiss granted on forum non conveniens grounds. Gordon v. Ramot-At-Tel-Aviv University , 13 Civ. 5105 (AT), 2014 U.S. Dist. LEXIS 49376 (SDNY, April 8, 2014). Motion for reconsideration denied, 13 Civ. 5105 (AT), 2014 U.S. Dist. LEXIS 84238 (SDNY June 5, 2014)

  • Representation of companies including those in the telecom and other industries in connection with securities fraud class actions; (In re Cellular Technical Services Securities Litigation, Master File No. C97-1155WD – United States District Court for the Western District of Washington; In re Nice Systems, Ltd. Securities Litigation, Master File No. 2:01-CV-737 (JAG) – United States District Court for the District of New Jersey; In re TTI Securities Litigation, Master File No. 2:04-CV-04305 (PGS-ES)—United States District Court for the District of New Jersey); Sarit Tamar v. MIND CTI, Ltd. et al., 09 Civ. 7132 (RMB), 2010 U.S. Dist. LEXIS 7689 (SDNY, July 2, 2010).

  • Representation of Board in connection with special investigation under the Foreign Corrupt Practices Act of actions relating to the sale of medical devices in Nigeria.

  • Representation of Fortune 50 Company in connection with a special investigation of employee allegations in connection with due diligence relating to the acquisition of a privately held company.

  • Representation of consulting subsidiary of Fortune 50 insurance broker in connection with claim by union that it had rendered negligent advice which had resulted in under funding of the health and welfare plan.

  • Representation of reseller of telephone services in connection with breach of contract and fraud action against AT&T Corp. (Telecom International America, Ltd. v. AT&T Corp., Civil Action No. 96 Civ. 1366(AKH) – United States District Court for the Southern District of New York).

  • Representation of real estate developer in connection with partnership disputes and charges of defalcation by contractor/partner.

  • Representation of foreign diamond dealer in a three-week arbitration proceeding in connection with partnership dispute and charges of IP infringement. Representation in arbitration proceedings of seller against a major utility relating to wrongful termination of a contract under a material adverse change clause.

  • Representation of publicly held telecom company in a complex arbitration relating to claims by a former executive that he had been fraudulent induced to sell his shares.

Speaking Engagements

  • AI-COMPLIANCE AND ETHICS ISSUES IN A WORLD DOMINATED BY ARTIFICIAL INTELLINGENCE—LEGAL, ETHICAL AND COMPLIANCE ISSUES CREATED BY THE REVOLUTION, New York State Bar Association International Section 2022 NYC Summer Conference, June 22, 2022.

  • The Unintended Consequences of Artificial Intelligence, Feliciano School of Business 2021 Executive Speaker Series, June 3, 2021.

  • Artificial Intelligence Legal Issues in the Life Sciences, co-sponsored by the McGovern Institute for Brain Research at Massachusetts Institute of Technology and Troutman Sanders, October 29, 2019.

  • International Bridging the Gap 2019 The FCPA: The Need for Internal Investigations, co-sponsored by the NYSBA International Section and the Committee on Continuing Legal Education of the New York State Bar Association, and Troutman Sanders, June 18, 2019.

  • International Bridging the Gap CLE Program, Failure to Prevent, co-sponsored by NYSBA International Section, Fordham University School of Law, and Troutman Sanders, June 12, 2018.

  • Pharma Under Attack: New Developments in Pharma Securities Litigation, Annual Pharma Law Conference, co-sponsored by NYSBA International Section, Huron Consulting, Troutman Sanders and Fordham University School of Law, New York, April 27, 2017.

  • Women in Business and Technology Forum, co-sponsored by NYSBA International Section, Friends of Jerusalem College of Technology (Machon Lev), Yieldbot, NYU Stern School of Business’ Technology Association, University of Toronto Institute for Health Policy, Management and Evaluation, Zicklin School of Business, Baruch College, CUNY, Cross River Bank, Morgan Stanley Premier Wealth Management Group, NYC MedTech, Troutman Sanders and IDT Corporation, March 22, 2017.

  • Cy-Pher Executive Roundtable – Cybersecurity Challenges and Response for Law Firms, Mimesis Law, New York, May 5, 2016.

  • Second Annual Pharma Law Conference, co-sponsored by NYSBA International Section, KPMG, NYC MedTech, Troutman Sanders and Fordham University Compliance and Ethics Society, March 3, 2016.

  • Cybersecurity Symposium & Global Corporate Compliance Workshop CLE, cosponsored by NYSBA International Section Corporate Compliance Committee and Troutman Sanders, July 21-22, 2015.

  • Hot Topics in Pharma Securities Litigation, Annual Pharma Law Conference, cosponsored by NYSBA International Section, KPMG, Troutman Sanders and Fordham University School of Law, New York, February 5, 2015.

  • FCPA and Whistleblowers: Tales from the Trenches, NYSBA International Section Compliance Program, New York, November 24, 2014.

  • Attorney Client Privilege/Internal Investigations/Crisis Management, Joint NYSBA International Section and the Tel Aviv District of the Israel Bar Association, 2014 Regional Meeting, U.S./Israel Connections, Tel Aviv, Israel, June 26, 2014.

  • There’s a New Sheriff in Town: Receivers, Trustees, Monitors and Examiners – The Ins and Outs of Appointments, Powers and Appropriateness, Compliance, Risk Regulation & Investigation Conference, New York Chapter of the Association of Certified Fraud Examiners, October 24-25, 2013.

  • Hot Topics for Global Corporate Counsel, 13th Annual Conference of the Israel Bar Association & 4th Joint Conference with the American Bar Association Section of International Law, Eilat, Israel, May 26-29, 2013.

  • Understanding the CFPB and State Attorneys General Regulatory Issues Relating to Debt Collection, Credit and Collection News Webinar, March 7, 2013.

  • The Current Climate in Securities Litigation, U.S.-China Capital Forum, New York University School of Law, April 17, 2012.

  • The Trend in Securities Litigation in the United States, Brean Murray Growth Conference, Beijing, China, June 2011.

  • Whistleblower Provisions of Dodd-Frank Act, NYC Bar Association, May 2011.

  • Effects of Globalization on the Legal Profession: Recent Developments in the U.S. in Securities Class Action Pleading Requirements, International Bar Association and the Israel Bar, Eilat, Israel, June, 2009.

Publications

  • Co-author, “Second Circuit: Nonspecific Fraud Allegations Aren’t Enough,” Troutman Pepper, April 27, 2021.

  • Co-author, Second Circuit Rules Plaintiff’s Securities Class Action Cannot Ride the Coattails of Foreign Bank’s Regulatory Troubles”, Troutman Pepper, September 2, 2021

  • Co-author, District of Massachusetts Finds Optimistic Statements Do no Amount to Actionable Securities Fraud”, Troutman Pepper, August 4, 2021.

  • Co-author, “International Litigation Management,” chapter in International Corporate Practice: A Practitioner’s Guide to Global Success, Practicing Law Institute, February 2021.

  • Co-author, “A Real Game-Changer: Supreme Court of Delaware Validates Federal Forum Provisions for Securities Act Cases,” Troutman Sanders, March 19, 2020.

  • Co-author, “The Latest Trends In Multiforum Securities Litigation,” Law360, April 2019.

  • Co-author, “When An SEC Settlement Leads To Disqualification By FINRA,” Law360, February 2019.

  • “Court Clarifies Whether a Seller’s Legal Privilege Passes to a Buyer Post-Acquisition,” by Aurora Cassirer and Matthew DeFrancesco, The M&A Lawyer, October 2016.

  • Co-author, “Fintech Innovation and Opportunity Meet the Regulators,” Bloomberg Law: Banking, July 2016.

  • Co-author with Christina H. Bost Seaton, “Privacy Law and Cybersecurity: What You Need to Know about Modern Threats to Electronically-stored Data,” TerraLex Connections, January 2016.

  • Co-Author, “Foreign Whistleblowers Have Little Protection Against Retaliation by Employers,” TerraLex Connections, December 2014.

  • Co-Author with Christina H. Bost Seaton, “Privilege Issues for Multijurisdictional In-house Counsel,” Corporate Counsel Magazine, September 23, 2014.

  • “A Guide To Replacing Lost Stock Book or Certificate,” by Aurora Cassirer, Edward Brandwein and Ming Ran Qu, Law 360, Augusts 8, 2012.