Elizabeth Lange represents public and private clients, including Fortune 50 and startup companies, in mergers and acquisitions, governance, and other corporate and securities matters. Recognized for her involvement in social enterprise and impact finance law, Lizzie has written extensively on legal and regulatory issues relating to social enterprise legal forms.

Corporate and Securities

Experienced in complex transactions, Lizzie has represented clients in transactions with deal sizes ranging from several million dollars to over $1 billion. Lizzie works with companies in a variety of industries and focuses her practice on mergers and acquisitions, venture capital/corporate venture capital and emerging companies, corporate restructurings, private securities offerings, divestitures and general corporate matters. Lizzie also represents various benefit corporations and emerging venture-backed companies.

Environmental, Social and Corporate Governance (ESG)

From start-ups to well established organizations, companies trust Lizzie to guide them on benefit corporation and B Corp matters, including:

  • Navigation of the B Corp certification process
  • Guidance on formation of or conversion to a benefit corporation or public benefit corporation (PBC)
  • Counsel of boards and management on corporate governance
  • Facilitation of discussions with investors and other financing sources regarding the implications of benefit corporation and B Corp status
  • Advice on compliance and reporting

Lizzie draws on more than a decade of experience helping clients in the social impact space, and she served on the Faegre Drinker team that created the benefit corporation legal form that has been adopted in more than 35 states. Lizzie co-leads the firm’s full-service ESG practice.

Lizzie is active in the Association for Corporate Growth (ACG), a global network of senior-level dealmakers. She participated in ACG University, an in-depth educational and networking program for M&A professionals, and she has been an active alum serving as an outreach ambassador. She is currently serving on ACG’s Membership Committee.

Lizzie is a contributing author for the Corporate Attorney’s Practice Guide and the Bloomberg BNA Corporate Practice Series: Benefit Corporations.

Representative Experience

  • Represented Cott Corporation (NYSE: COT), a leading beverage manufacturer, with respect to M&A and strategic and general corporate matters. In particular, over the last several years Lizzie has advised Cott on acquisition and divestiture transactions ranging from under $5 million to over $750 million.
  • Represented a private equity fund focusing on the transportation sector and its portfolio companies in acquisition and divestiture transactions and other strategic initiatives.
  • Represented a privately held manufacturer of household appliances in its $90 million acquisition of a power cell company.
  • Represented U.S.-based consulting firm in $220 million sale to an international-based strategic buyer.
  • Represented a market research and data analytics company in $175 million sale to a private equity buyer.
  • Represented a major cable provider in its strategic acquisition of a dynamic ad insertion and alternative content delivery company.
  • Represented the venture capital arm of a major cable provider in connection with investments in the mobile software, digital advertising and social media industries.
  • Represented a number of registered investment advisers in investment company acquisitions and other strategic transactions.
  • Represented Covance in its sale of Covance Antibody Services Inc. to BioLegend, Inc. Represented Covance in its sale of the assets of Covance Genomics Laboratory LLC to Laboratory Corporation of America.
  • Represented the venture arm of a Fortune 50 company in connection with a $17 million convertible preferred-stock investment in Healthcare IT company.
  • Represented privately held medical device company in an $80 million sale to a strategic buyer. Represented start-up companies with respect to entity formation and venture capital raising initiatives.
  • Represented fair-trade soccer ball company with benefit corporation conversion, early stage financings and general corporate matters.

Personal Interests

An avid reader, Lizzie started the Philadelphia office’s Executive Women’s Forum, which brings NY Times best-selling women authors to speak and network with clients and women executives.

Lizzie co-leads the firm's full-service ESG team and advises clients on M&A, Governance and B Corp matters.

Related Industries


Bar Admissions

New Jersey


Temple University Beasley School of Law
J.D. cum laude, Temple Law Review (2009)

University of Pennsylvania
B.A. cum laude (2004)

Insights & Events

Other Perspectives

Leadership & Community

Pro Bono

Lizzie has worked for over 10 years with the nonprofit B Lab, helping draft the model benefit corporation legislation and supporting the developing social impact space. In connection with her representation of B Lab, Lizzie helped pass benefit corporation legislation in over 30 states, including DE, PA, NY, NJ, IL and CA. She has also worked with a range of companies and their boards (from startups such as Farmigo and Senda Athletics, to Fortune 500 companies such as Danone North America), as they consider B Corp certification and legal changes to become benefit corporations.

Professional Associations

  • Association of Corporate Counsel
  • Association for Corporate Growth (ACG), Membership Committee
  • Benefit Company Bar Association, Executive Director, 2016-present
  • Sustainable Business Network of Greater Philadelphia, Past Member of the Board of Directors

Firm Leadership

  • Drinker Biddle & Reath LLP — Women’s Leadership Committee; ACC Programming Committee; Summer Committee; Associates Committee


  • Best Lawyers® — "Ones to Watch," Corporate Governance and Compliance Law, 2021-24; "Ones to Watch," Mergers and Acquisitions Law, 2023-24
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