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.

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.


  • Big Four accounting firm audit partner as trial counsel in a contested PCAOB disciplinary proceeding.
  • In re Chiquita Brands International, Inc., Alien Tort Statute and Shareholders Derivative Litig. (S.D. Fla.). Represented officer defendants in shareholder derivative litigation related to Chiquita's payments to extra-governmental parties in Colombia.
  • In re Qwest Communications International Inc. Securities Litigation (D. Colo.). Represented 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.
  • Richardson v. Ulsh, 2007 WL 2713050 (D.N.J.). Won motion to dismiss with prejudice shareholder derivative suit against current and former officers and directors of Exide Technologies.


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
  • Hearing Committee Chair, Board on Professional Responsibility, District of Columbia Court of Appeals

  • Board of Visitors, Indiana University Maurer School of Law

  • Board of Directors, Council for Court Excellence (2005-2015)

  • Board of Directors, Washington Lawyers' Committee for Civil Rights & Urban Affairs (2006-2012)

  • Co-Chair, Arnold & Porter LLP Hiring Committee (2006-2012)

  • Former Adjunct Professor, Michigan State University College of Law

  • Board of Directors, Dog & Pony DC Theater Company

  • United States Court of Appeals, First Circuit, The Honorable Bruce M. Selya

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