|
|
|
Litigation
Elissa Preheim is a partner in Arnold & Porter LLP's Litigation practice. Her 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.
Prior to joining Arnold & Porter LLP, Ms. Preheim served as a law clerk to the Honorable Bruce M. Selya of the United States Court of Appeals for the First Circuit.
Litigation Representative Matters
Securities, Derivative and other Complex Litigation
- Trial counsel for a Big Four accounting firm audit partner 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.
Consumer Class Action and Environmental Litigation
- Represents BP in natural resource damages and other matters relating to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.
- Amos v. GEICO Corporation, 2008 WL 4425370 (D. Minn. Sept. 24, 2008). Defeated certification of national class action and secured dismissal of case challenging as discriminatory GEICO's consideration of occupation and education level in underwriting.
- Samples v. Conoco, Inc. (Fla.). Represented Agrico Chemical Company in class actions seeking US$1 billion in damages for alleged diminution in property values and personal injury from large groundwater plume associated with former fertilizer manufacturing facility.
Government Investigations
- Represented lead audit partners at Big Four and other accounting firms in PCAOB investigations.
- Represented large financial institution in investigations by the SEC, SIGTARP, and the DOJ.
- Represented accounting firms and individual auditors at those firms, including audit partners, concurring partners, and national office partners, in numerous SEC investigations and related securities actions regarding alleged financial statement and accounting fraud.
Securities, Derivative and other Complex Litigation
- Trial counsel for a Big Four accounting firm audit partner 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.
- Wilson v. Barcella, 2007 WL 963977 (S.D. Tex.), affirmed, 284 Fed. Appx. 210 (5th Cir. 2008). Won and successfully defended on appeal dismissal of Bivens suit against former Deputy Assistant Attorney General.
- 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.
- In re Refco Inc. (Bankr. S.D.N.Y.). Represented accounting firm and individual auditors in bankruptcy litigation.
- Stephens v. Halliburton Company, et al., 2003 WL 22077752 (N.D. Tex.). Represented accounting firm and audit partner; won motion to dismiss securities fraud claim.
- 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.
Consumer Class Action and Environmental Litigation
- Represents BP in natural resource damages and other matters relating to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.
- Amos v. GEICO Corporation, 2008 WL 4425370 (D. Minn. Sept. 24, 2008). Defeated certification of national class action and secured dismissal of case challenging as discriminatory GEICO's consideration of occupation and education level in underwriting.
- Exeter v. GEICO General Insurance Co., 146 Wash.2d 1017 (Wash. 2002). Successfully defended dismissal of Consumer Protection Act claim.
- Samples v. Conoco, Inc. (Fla.). Represented Agrico Chemical Company in class actions seeking US$1 billion in damages for alleged diminution in property values and personal injury from large groundwater plume associated with former fertilizer manufacturing facility.
- Moore v. Agrico Chemical Company (Fla.). Represented former chemical manufacturer in defense of large class action seeking damages for alleged property damage and personal injuries associated with surface and groundwater migration of pesticides and other contaminants.
Government Investigations
- Represented lead audit partners at Big Four and other accounting firms in PCAOB investigations.
- Represented large financial institution in investigations by the SEC, SIGTARP, and the DOJ.
- Represented accounting firms and individual auditors at those firms, including audit partners, concurring partners, and national office partners, in numerous SEC investigations and related securities actions regarding alleged financial statement and accounting fraud.
Professional Activity
-
Hearing Committee member, Board on Professional Responsibility, District of Columbia Court of Appeals
-
Board of Directors, Council for Court Excellence
-
Board of Visitors, Indiana University Maurer School of Law
-
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
Community Activity
-
Board of Directors, Dog & Pony DC Theater Company
"PCAOB Issues Policy Statement Regarding Credit for "Extraordinary Cooperation"" (PDF: 427 kB) Apr 2013
"Supreme Court Holds "Discovery Rule" Does Not Apply to Statute of Limitations for Government Enforcement Penalty Actions" (PDF: 713 kB) Mar 2013
"US Supreme Court Invalidates "For Cause" Removal Limits Of Sarbanes-Oxley Act" (PDF: 350 kB) Jun 2010
"First Circuit Rejects Attempt to Impose Rule 10b-5 Primary Liability for "Implied" Statements" (PDF: 288 kB) Mar 2010
"SEC Announces New Guidance For Cooperation with Investigations" (PDF: 256 kB) Jan 2010