Reid Collins & Tsai LLP (Reid Collins) is a trial boutique handling complex commercial litigation and bankruptcy-related litigation, particularly claims involving fiduciary liability, professional negligence, and financial fraud. Key clients include hedge funds, private equity funds, corporations, offshore liquidators, receivers, and bankruptcy trustees. Reid Collins has secured more than $2 billion in total judgments and settlements for its clients in the past several years alone.
Reid Collins is unique in several respects, including: (1) its extensive experience with high-profile cases involving large-scale financial fraud or insolvency; (2) its expertise in successfully pursuing claims against officers, directors, accountants, lawyers, and investment banks relating to the underlying fraud or misconduct; and (3) its willingness to pursue those claims on an alternative fee basis.
Reid Collins has earned many professional accolades for its achievements, including being named: 2024 U.S. Bankruptcy Firm of the Year by Benchmark Litigation; 2021 and 2022 U.S. Business Torts Law Firm of the Year (and 2023 and 2024 finalist) by The National Law Journal; the 2022 Texas Business Litigation Department of the Year (and 2024 finalist) by Law.com/Texas Lawyer; a 2021 and 2024 finalist for National Boutique/Specialty Department of the Year by The American Lawyer; a 2019-2024 finalist for U.S. Plaintiff Firm of the Year by Benchmark Litigation; listed as a “Recommended Firm” in Chambers USA; the 2020 U.S. Bankruptcy and Commercial Litigation Law Firm of the Year by The National Law Journal, and both a “Top 10 Plaintiffs Firm in America” and one of the Top U.S. Boutique Firms by Benchmark Litigation, among numerous other accolades.
Complex Commercial Litigation
Reid Collins has achieved numerous victories in complex commercial litigation, including:
- Obtained one of the largest shareholder derivative settlements in history – a $300 million “direct pay” settlement in the Renren Derivative Litigation – in a case which also set important jurisdictional precedents establishing the right of aggrieved minority shareholders to derivative standing under Cayman law and holding foreign individual and corporate defendants accountable for wrongdoing and fraud in U.S. courts
- Won multiple appeals and obtained judgment of more than $64 million for Claymore Holdings/Highland Capital against Credit Suisse following a five-week trial (and subsequent bench trial) on fraud and breach of contract claims related to a loan for the Lake Las Vegas resort; and
- Recovered nearly $100 million for state pension fund clients resolving claims under the Fraud Against Taxpayers Acts of multiple states against large Wall Street banks related to financial crisis-era sale of residential mortgage-backed securities.
Bankruptcy-Related Litigation
Reid Collins has prevailed in many important bankruptcy-related litigation matters, including:
- Won a landmark decision before the U.S. Supreme Court, restricting the scope of the section 546(e) “safe harbor” defense to fraudulent transfer claims, thereby overturning long-standing interpretations of that defense by five circuit courts;
- Defeated a motion to dismiss a $1 billion lawsuit by the GTAT Litigation Trust against the former officers of GT Advanced Technologies Inc., a former publicly traded company, related to its failed contract with Apple to manufacture sapphire display screens for the iPhone; and
- Achieved a $21.5 million settlement on behalf of the Official Committee of Unsecured Creditors of Fresh & Easy, LLC, with respect to claims against the former insiders – including billionaire Ronald Burkle – for breach of fiduciary duty and fraudulent transfer of certain assets.
Reid Collins has also become a national leader in the pursuit of legal malpractice claims. Over the past decade, the firm has pursued dozens of claims against more than 20 of the Am Law 100 firms, recovering hundreds of millions of dollars for its clients. While many of these claims arose out of financial frauds, the firm also has asserted claims against law firms for negligently documenting multimillion-dollar transactions, providing negligent tax advice, and failing to properly advise their corporate clients on securities laws or key government regulations.
Practice Areas:
Complex Commercial Litigation
Fiduciary Liability
Professional Liability
Financial Fraud
Bankruptcy-Related Litigation
Office Locations:
Dallas
Thanksgiving Tower
1601 Elm Street, Suite 4200
Dallas, TX 75201
T: +1 214 420 8900
F: +1 214 420 8909
New York
420 Lexington Avenue
Suite 2731
New York, New York 10170
T: +1 212 344 5200
F: +1 212 344 5299
Washington, DC
1775 Eye Street, NW, Suite 1150
Washington, DC 20006
T: +1 202 729 9890
F: +1 202 747 7674
Wilmington
1007 N. Orange St. Nemours Bldg - 4th Floor
Wilmington, DE 19801
T: +1 302 467 1765
www.reidcollins.com
Updated Sep 2024
