Elissa Preheim's practice focuses on securities, complex commercial and environmental litigation, with an emphasis on securities enforcement, class actions, and professional liability.

Ms. Preheim has successfully defended securities and shareholder derivative litigation, accounting and auditor liability matters, insurance class actions, internal investigations, and insider trading investigations. She has also litigated toxic tort, intellectual property, civil rights, and other commercial disputes. Ms. Preheim's experience includes representing public and private companies, accounting firms, insurance companies, financial institutions, broker-dealers, attorneys, accountants, and corporate directors and officers. Ms. Preheim’s experience includes litigating high stakes matters involving parallel proceedings and public relations considerations.

As a result of her engagements, Ms. Preheim has appeared at the trial and appellate levels of both federal and state courts, and she has defended clients in investigations and enforcement matters conducted by the Securities and Exchange Commission (SEC), United States Department of Justice (DOJ), Public Company Accounting Oversight Board (PCAOB), Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Financial Industry Regulatory Authority (FINRA), and other government agencies.

Prior to joining Arnold & Porter, Ms. Preheim clerked for the Honorable Bruce M. Selya at the United States Court of Appeals for the First Circuit. She graduated summa cum laude from the Indiana University Maurer School of Law, where she was Executive Articles Editor of the Indiana Law Journal.


  • Big Four accounting firm audit partner, as trial counsel in a contested PCAOB disciplinary proceeding.
  • Former company executive in Alien Tort Statute, shareholder derivative and other related litigation arising from extortion payments made by Chiquita's former subsidiary to extra-governmental parties. In re Chiquita Brands International, Inc., Alien Tort Statute and Shareholders Derivative Litigation (S.D. Fla.).
  • Outside accounting firm and individual auditors in securities fraud class actions, as well as parallel proceedings in California, Illinois, and New Jersey state courts, related government investigations, and third-party litigation. In re Qwest Communications International Inc. Securities Litigation (D. Colo.).


Changing the Settlement Equation - The PCAOB Division of Enforcement and Inspections Implements New Admissions Policy
Bloomberg BNA Securities Regulation & Law Report
New PCAOB Admissions Policy Alters The Settlement Equation

Securities Law360 New York

Changing Settlement Equation - The PCAOB's Implementation of an Admissions Policy
Arnold & Porter Advisory
Accountants' Liability 2015: Confronting Enforcement and Litigation Risks
Supreme Court Clarifies Liability for Statements of Opinion Under Section 11 of the Securities Act
Arnold & Porter Advisory


  • JD, Indiana University, 1996, summa cum laude
  • BA, Northwestern University, 1993, Phi Beta Kappa
  • District of Columbia
  • Numerous Federal Courts
  • United States Court of Appeals, First Circuit, The Honorable Bruce M. Selya
  • Hearing Committee Chair, Board on Professional Responsibility, District of Columbia Court of Appeals

  • Board of Directors, Justice at Stake

  • Board of Visitors, Indiana University Maurer School of Law

  • Board of Directors, Dog & Pony DC Theater Company


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