There are 5 different women in DC Comics continuity who have taken up the name Lady Liberty. 4 of them are continuations of the tradition set by the first, and they are all listed on this page.
The 5th Lady Liberty was unrelated to the other 4, a woman involved in Lex Luthor's Everyman Project. For her page, see: Lady Liberty.
1st Iteration: The Force of July
She was a member of Force of July, a team of agents working for the American Security Agency. She and her team operated under the personal supervision of the ASA's director, B. Eric Blairman. Her team was charged to eliminate all subversive activities contrary to the best interests of the United States. She and her team often fought the Outsiders.
Her costume consists of robes and a crown based on the Statue of Liberty, and she speaks with a French accent. Although not explored fully, it is alluded to in comics that she is romantically involved with Major Victory (William Vickers). Her real identity is never revealed.
She appears in the Outsiders 1987 special, fighting off a combined Outsiders/Infinity Inc. infiltration of the Force's California headquarters. Her team is initially successful, subduing and capturing all of the heroes.
Lady Liberty appears again during the Janus Directive, crossover event among multiple series. The Suicide Squad is manipulated into attacking the group and Liberty suffers the death of two of her allies, Mayflower and Sparkler. This was because Amanda Waller, the head of the Squad, had to keep up the hoax that she had been replaced by a double hostile to American interests. Nevertheless, the rest of the Force joins in on an attack against Kobra, the driving force behind the Directive. During the mission, her ally, Silent Majority perishes. Liberty sacrifices herself to destroy Kobra's capability to kill millions.
Lady Liberty's power was telekinetic, and she could only focus and enhance her psychic abilities through her Liberty Torch, usually taking the form of her ability to fly and destructive beams of psychic energy.
2nd Iteration: Freedom's Ring
As a member of Freedom's Ring she was tasked to protect the remains of Bludhaven after the Brotherhood of Evil devastated the city using Chemo as a living bomb. The Ring's mission was to secure the area, so that S.H.A.D.E. could begin studying and experimenting on those who had gained metahuman abilities in the wake of the massive burst of radiation emitted in the aftermath of the explosion She was killed by Geiger of the Nuclear Legion.
3rd Iteration: Agent of S.H.A.D.E. (1st)
After S.H.A.D.E. takes over Freedom's Ring, a new operative is given the costume and codename. Like the second Lady Liberty, she too is African-American, and sports a stylish dreadlock variant of the typical hairstyle worn by those operating under the codename. However, she is killed by Ravager during a conflict with the Teen Titans, Firebrand IV, Monolith, and the various superhuans inhabiting Bludhaven.
4th Iteration: Agent of S.H.A.D.E. (2nd)
A new Lady Liberty fights the Freedom Fighters as an agent of S.H.A.D.E.'s newest superhuman assault team, First Strike. She appears to have some previous relationship with the new Phantom Lady, stating intense distain for her during their fight. She manages to enrage Stormy enough to the point that she lashes out at her in anger and strips her of her costume with her Blacklight Ray, and therefore, the source of her powers, during their fight midair. If not for a timely rescue by The Ray, she would have been killed as a result of her fall back to Earth. Instead, the Ray took pity on her, stating that they weren't the bad guys here, and used his superspeed to wisk her away to safety, thankfully somewhere her current, attireless appearance wouldn't be out of place: a nudist beach in Spain.