Elizabeth W. Powers is a member of the corporate department, where she concentrates on corporate finance, compliance and reporting and corporate governance. Her traditional focus has been on companies in regulated industries, including insurance and energy. Ms. Powers represents issuers in securities transactions, including public offerings and private placements of equity and debt securities, Rule 144A transactions, shelf registration statements and takedowns, medium-term note programs and equity dribble-out programs. She advises clients on issuer stock repurchase programs, Rule 10b5-1(c) plans, Section 16 and Rule 144 and has worked on corporate reorganizations, including migration of the state of incorporation and formation of holding companies.

Ms. Powers assists companies with Securities Exchange Act of 1934 periodic and current reports, providing guidance on triggering events for Current Reports on Form 8-K, as well as with the preparation of proxy statements, including matters relating to shareholder proposals, CD&A, say-on-pay and additional soliciting materials. She advises companies, boards of directors and board committees on the requirements of the Sarbanes-Oxley Act of 2002, the Dodd-Frank Act and related SEC and New York Stock Exchange rules and regulations, including director independence analysis, corporate governance guidelines, committee charters, codes of conduct and policies relating to Reg. FD, related person transactions, insider trading and clawbacks. She has prepared amendments to corporate charters, such as declassification of the board of directors and elimination of super-majority voting, as well as to bylaws, including advance notice, proxy access, majority voting and indemnification. She also works on executive compensation matters, advising on shareholder approval requirements, SEC registration and disclosure.

Ms. Powers is a graduate of the University of South Carolina School of Law, where she was Executive Editor of the Law Review, and a graduate of Mount Holyoke College.

Areas of Practice

  • Corporate Law
  • Securities Law
  • Corporate Governance
  • Executive Compensation

Representative Matters

  • Represented a NYSE-listed company in at-the-market offerings for an aggregate of 5,500,000 shares of common stock.
  • Represented a NYSE-listed company in the underwritten public offering of 4,025,000 shares of common stock, including an over-allotment option.
  • Represented a selling shareholder in a secondary public offering of common stock.
  • Represented an electric utility in multiple shelf-registered offerings of first mortgage bonds, secured medium-term notes, aggregating $1.8 billion.
  • Represented a public utility in the private placements of first mortgage bonds, aggregating $75 million.
  • Represented a company in a Rule 144A offering of $100 million floating rate notes.
  • Represented a holding company subsidiary in multiple registered offerings of debentures.
  • Represented a public utility in a fixed spread tender offer for a series of its first mortgage bonds.
  • Represented a holding company in the sale of two subsidiaries.
  • Represented a number of companies in the issuance and sale of preferred stock, including perpetual preferred, sinking fund preferred and flexible auction preferred, in registered offerings and through private placement.
  • Represented electric utilities in connection with pollution control bond transactions, including refundings and termination of financial guaranty insurance.
  • Represented an electric utility with respect to its nuclear fuel leases.
  • Advised two public utilities on the formation of a holding company.
  • Represented a holding company in a registered exchange offer for common stock of a subsidiary.
  • Advised a number of companies on dividend reinvestment and open investor plans.


  • New York
  • South Carolina


  • University of South Carolina School of Law, J.D., 1978
    - Executive Editor, Law Review
  • Mount Holyoke College, A.B., History


  • Duane Morris LLP
    - Partner, 2012-present
  • Dewey & LeBoeuf LLP and LeBoeuf, Lamb, Greene & MacRae LLP, New York
    - 1997-2012
    - Executive Committee: 2007-2012
    - Women's Initiatives Committee, Chair: 2007-2012
  • Reid & Priest, New York
    - Partner: 1986-1997
    - Associate: 1978-1986

Professional Activities

  • Society of Corporate Secretaries & Governance Professionals
  • American Bar Association
    - Business Law Section
    - Section of Public Utility, Communications and Transportation Law
    - Section of Labor and Employment Law

Honors and Awards

  • Tri-State Diversity Council, Woman of the Year, 2012
  • National Diversity Council Leadership & Excellence Award, 2011
  • Tri-State Diversity Council, Most Powerful & Influential Women, 2010 and 2011
  • Crandall Close Bowles Award for Professional Achievement in the Law, 2009
  • Profiles in Diversity Journal, Women Worth Watching, 2009
  • Who's Who in America
  • Who's Who in American Law
  • Who's Who of American Women
  • YWCA - NYC Academy of Women Leaders, 2008

Board Memberships

  • Tri-State Diversity Council Board of Directors, Vice Chair, 2011-2016
  • Ashley Hall School Board of Trustees

Selected Publications

Selected Speaking Engagements

  • Panelist, "2013 National Diversity Council Conference," California University of Pennsylvania, September 19, 2013
  • Host, "Women in Professional Services—Surviving and Thriving in Shark-Infested Waters," New York City, October 4, 2012
  • "Disclosure Obligations in Connection with FERC Investigations," American Gas Association FERC Manual Users Forum, March 31, 2010
  • Tri-State Diversity Council Women in Leadership Symposium, March 11, 2010
  • "Measuring Materiality in a World of Million Dollar a Day Penalties - Disclosure Duties to Shareholders in Connection with Non-Public Investigations," Beyond the Basics - Advanced Energy Enforcement and Compliance Issues Seminar, June 2008
  • "The SEC's Executive Compensation Disclosure Rules," Multiple Client Conferences
  • "Section 16 of the Securities Exchange Act of 1934," Multiple Client Conferences
  • "Equity-Based Compensation and the Securities Acts," Western Pension and Benefits Conference
  • "Proxy Solicitation," Client Conference
  • "Recent SEC-Related Developments and Current Issues in Corporate Governance," Client Conference