With a focus on securities litigation, Elizabeth Fay represents financial services firms, issuers, and public company directors in a range of civil disputes. She defends publicly held companies and their directors in shareholder class actions and derivative cases. Elizabeth represents securities broker-dealers and other financial services enterprises in lawsuits with customers and other financial institutions as well as broker-dealers and individual clients in enforcement matters involving the SEC, FINRA, and state securities commissions.
Along with her litigation practice, Elizabeth represents broker-dealers and clients outside the financial services industry in commercial arbitrations before FINRA and the America Arbitration Association. She also counsels clients on broker-dealer compliance issues.
Elizabeth often lectures on federal securities legislation, broker-dealer litigation, and issues related to arbitration and alternative dispute resolution. Her audiences have included industry groups, bar associations, and university classes on alternative dispute resolution.
She is a former president of the board of directors of the Philadelphia Society for Services to Children.
Duke University, 1977, A.B.
University of Virginia School of Law, 1980, J.D.
U.S. Court of Appeals for the Third Circuit
U.S. Supreme Court
U.S. District Court for the Eastern District of Pennsylvania
Awards and Affiliations
Member, Practice Group of the Year, Asset Management, Law360 (2017)
Member, American Bar Association, Business Law & Litigation Section
Member, Philadelphia Bar Association
Former President, Philadelphia Society for Services to Children, Board of Directors