Elizabeth Fay is a partner in Morgan Lewis's Litigation Practice. Ms. Fay's practice focuses on securities litigation, particularly on the representation of financial services firms, issuers, and directors of public companies in civil litigation. She has represented securities brokers-dealers, and other financial services firms, in dozens of lawsuits with customers, former employees, and other institutions, and she has defended numerous publicly held companies in a wide range of industries, and their directors, in shareholders' class and derivative actions.

Ms. Fay has represented issuers, broker-dealers, and individual clients in enforcement matters before the SEC, FINRA, and state securities commissions. She has also represented broker-dealers and other clients outside the financial services industry in dozens of commercial arbitrations before FINRA and the American Arbitration Association. In conjunction with her securities litigation and enforcement practice, Ms. Fay has counseled clients in the financial services industry regarding compliance issues.

Ms. Fay has lectured on developments in federal securities legislation and on broker-dealer litigation and securities industry arbitration topics to industry groups, bar association groups, and university classes on alternative dispute resolution.