Walter A. Saurack

Partner

  • Walter A. Saurack
  • Phone: +1 212 404 8703

    Import to Address Book

  • Duane Morris LLP
    230 Park Avenue, Suite 1130
    New York, NY 10169-0079
    USA
  • Duane Morris LLP
    1540 Broadway
    New York, NY 10036-4086
    USA

Walter A. Saurack is a trial attorney with almost 30 years of experience in a broad array of complex commercial litigation and regulatory matters, particularly on behalf of real estate, gaming and financial institutions.  Mr. Saurack successfully has litigated matters nationwide at both the trial and appellate levels, including securities, banking, ERISA, employment, insurance, gaming and real estate disputes. Specific experience includes defense of financial institutions in court and before FINRA in disputes related to Ponzi schemes, RICO, anti-money laundering, discrimination, restrictive covenants, and raiding and before FINRA and the SEC in regulatory and criminal matters.  Mr. Saurack defends gaming companies nationwide before JAMS, the AAA and in court, including in class actions and mass arbitrations. 

Mr. Saurack is a FINRA arbitrator and qualified chairperson.

Additionally, Mr. Saurack, whose prior experience includes service as a prosecutor, represents clients in state and federal governmental investigations, before legislative bodies and conducts internal investigations.  He is highly experienced in crisis management, public relations and strategic communications programs.

Areas of Practice

  • Litigation and Dispute Resolution
  • White Collar
  • Insurance and Professional Liability
  • Labor and Employment Law
  • Gaming

Representative Matters

  • Defending gaming industry AAA and JAMS arbitration and mass arbitration claims and class action court cases asserting right to recovery under gambling loss and consumer fraud statutes.

  • Representing broker-dealer in Ponzi scheme fraud litigations.

  • Representing investment bank in suit claiming defendant breached a contract to pay $12 million in fees for services rendered in connection with defendant’s merger with a special-purpose acquisition company.

  • Represented investment bank in breach of a right of first refusal provision resulting from failure to offer a bookrunning position on certain offerings.

  • Obtained multi-million dollar summary judgment award and attorneys’ fees and costs on behalf of private equity fund plaintiff in a dispute over a post-closing clawback provision in an asset purchase agreement.

  • Defended board of directors in a suit challenging a board election. The Court denied the plaintiffs’ preliminary-injunction application and dismissed their complaint in its entirety, thereby upholding the propriety of an annual meeting to be held pursuant to an emergency COVID amendment to N.Y. Not-for-Profit Corporation Law Sec. 603(a).

  • Defeated preliminary injunction application by marina against village regarding inter alia access to village property by non-villagers during COVID-19 pandemic.

  • Obtained dismissal of $250 million qui tam tax fraud case related to real estate projects on behalf of real estate developer and co-executives.

  • Represented plaintiff convenience store operator against private equity fund in RICO suit related to $60 million dollar pension fund liability.

  • Represented real estate developer and executives in the Southern District of New York in defense of $100 million RICO claims related to real estate projects.

  • Successfully obtained default judgment on counterclaims, dismissal of adversary’s complaint and attorneys’ fees on behalf of publishing company following a trial on spoliation in the Southern District of New York.

  • Tried month-long $50 million credit default obligation securities fraud claim before FINRA on behalf of broker-dealer against major international bank.

Admissions

  • New York
  • New Jersey
  • U.S. District Court for the Southern District of New York
  • U.S. District Court for the Eastern District of New York
  • U.S. District Court for the District of New Jersey
  • U.S. Court of Appeals for the Second Circuit

Education

  • Notre Dame Law School, J.D.
  • Dartmouth College, B.A., cum laude

Experience

  • Duane Morris LLP
    - Partner, 2020-present
  • Satterlee Stephens LLP, 1998-2020

Professional Activities

  • Federal Bar Council
    -Member 
  • FINRA arbitrator and qualified chairperson
  • AAA trained mediator
  • New York State Bar Association
    - Committee on Arbitration and ADR
    - Employment and Labor Relations Committee
  • New York City Bar Association
    - Commercial Law & Uniform State Laws Committee, 2012-2014

Board Memberships

  • Pershing Ventures
    - Advisory Board

Civic and Charitable Activities

  • Pro Bono Volunteer, Catholic Charities of Brooklyn and Queens
    - Empire State Counsel Award for Pro Bono Service, 2013
  • Volunteer, The Sharing Shelf, White Plains, New York

  • Volunteer, Part of the Solution at Our Lady of Mercy, Bronx, New York

Media Hits

Selected Publications

Selected Speaking Engagements

  • Speaker, "Practical Impacts of Recent FTC Updates," Association of Corporate Counsel, September 12, 2024
  • Speaker, "TO COMPETE OR NOT TO COMPETE: Restrictive Covenants and the FTC's Proposed Non-Compete Ban," Association of Corporate Counsel, September 13, 2023
  • Panelist, "Where's My Merchandise? Using Contracts and Government Relations to Ameliorate Supply Chain Issues," Association of Corporate Counsel Westchester-Southern Connecticut Chapter CLE, March 31, 2022
  • Panelist, "TRAPS IN THE COURT OF PUBLIC OPINION: Ethical, Legal and Practical Considerations for Lawyers When Communicating with the Media and Public," Association of Corporate Counsel, May 12, 2021

Media Hits