Reid Collins & Tsai

Texas

Review

Dispute resolution

A litigation boutique with a plaintiff-side ethos, Reid Collins & Tsai has crafted itself as maverick in the world of trial litigation. Over its years in service, the firm has expanded from its Texas roots to include New York, DC, and Delaware outfits. The firm's strategic five-office footprint has amassed national recognition for its capability in high-stakes commercial and bankruptcy litigation. Co-founding partner hailing from the Austin office, Bill Reid enjoys a national reputation as an all-purpose commercial lawyer. Following several key trial victories over the last year, Reid secured a direct pay cash settlement – minimum $30 million – on behalf of Renren in its shareholder derivative lawsuit against company insiders. The settlement is pending approval but remains to be one of the largest direct cash payments in derivative actions. Reid and fellow founding partner Lisa Tsai represented Claymore Holdings in its long-running lawsuit against Credit Suisse. At a hearing in January 2021, Reid argued that Credit Suisse should pay Claymore $171.9 million in out-of-pocket damages and prejudgment interest. Six months later, the nearly decade-long dispute came to an end when the 134th Civil District Courtin Dallas County entered a fraud judgment against Credit Suisse, awarding more than $121 million to Claymore. Tsai currently represents Otto Bock Healthcare North America alleging claims of legal malpractice lawsuit against a full-service law firm that acted as transaction counsel during the company’s acquisition of a competitor. The action arose following the Federal Trade Commission’s investigation and subsequent administrative proceedings into antitrust violations. The matter is ongoing and currently in discovery. Bankruptcy and commercial litigator Eric Madden represents the successor to Insys Therapeutics, Insys Liquidation Trust, formed after the company’s illegal off-label marketing scheme led it to bankruptcy due to a series of criminal proceedings, class actions and civil cases that resulted in racketeering charges against executives and a $225 million fine to settle other investigations. Madden is now lead counsel in the company’s investigation and prosecution of claims against former executives and related professionals. In a recently resolved matter, Madden secured an approved settlement of $10.5 million on behalf of a class of distributors alleging fraud and RICO claims against AdvoCare, a multi-level marketing company that operated a pyramid scheme.