William Reid IV

Reid Collins & Tsai LLP is a US law firm established in 2009 with offices in New York City, Austin, Dallas, Washington, D.C., and Montecito. The firm represents plaintiffs in complex civil litigation on a mixed-fee or contingency-fee basis.

Key practice areas include financial fraud, insolvency cases, professional liability, fiduciary litigation, bankruptcy litigation, mediation and whistleblower actions.

The firm was founded in November 2009 in Austin with 9 lawyers who had previously worked at Latham & Watkins, Diamond McCarthy and the U.S. Department of Justice with William T. Reid, IV, P. Jason Collins, and Lisa S. Tsai serving as founding partners. Among their first cases were the bankruptcies of Stanford International Bank, Thelen LLP and Cornerstone Ministries Investments. In 2010, hedge fund Highland Capital Management hired the firm to represent their interests in a suit against Credit Suisse on a contingency-fee basis. By the end of 2010, the company had 15 lawyers. In October 2011, RCT partner Marina Marmolejo was appointed as a federal judge of the United States District Court for the Southern District of Texas.In 2013, the firm opened a Dallas office with Eric Madden and J. Benjamin King as bankruptcy litigation partners, joined later by Brandon V. Lewis. In October 2014 the Dallas office moved to Thanksgiving Tower. In November 2018, the firm added former Munger, Tolles & Olson partner Marc T.G. Dworsky as a partner.

• In 2012, Reid Collins & Tsai filed a US$100 million lawsuit against singer Shakira on behalf of her ex-boyfriend and former business partner Antonio de la Rua in the New York Supreme Court, seeking to "recover damages" for breach of contract and fiduciary duty. The company made similar claims against Shakira in Los Angeles, Switzerland, and the Cayman Islands. All of the lawsuits were ultimately dismissed on forum non conveniens grounds.
• In 2012, the firm handled several cases for one of their early clients, Highland Financial Partners, settling an alleged "legal malpractice/negligence" suit against Orrick, Herrington & Sutcliffe.
• In December 2013, the firm filed an $80 million claim against DLA Piper on behalf of its liquidators, claiming the firm helped two associated funds misappropriate millions of dollars (in 2015 the judge dismissed the lawsuit).
• In 2014, the firm represented Plaintiff Claymore Holdings, LLC, as the assignee of the claims of investment funds managed by Highland Capital Management, LP, in a fraudulent inducement and breach of contract lawsuit against global investment bank Credit Suisse (Claymore Holdings, LLC vs. Credit Suisse AG, et al., Cause No. DC-13-07858, the 134th Judicial District Court of Dallas County, Texas). Following a three-week bench trial, thetrial court found that Credit Suisse had breached its contractual obligations, and entered a judgment against it for$287.5 million. The firm also filed a $1.15 billion suit against Citigroup, Bank of America, Goldman Sachs on behalf of relator Integra REC (largest financial fraud case ever brought by the state of Virginia (Case No. CL14-399) resulting in a2016 $63 million settlement to be paid to the state). The company also resolved claims of corporate mismanagement filed by the former Astrotech Corporation's CFO John Porter against the CEO Thomas Pickens III. The case was subsequently settled. The firm also settled a clawback action for $32.2 million on behalf of Dreier LLP post-confirmation plan administrator.
• In February 2015, the firm represented Tibanne Ltd, the parent company of Mt. Gox, bitcoin exchange when the company filed for bankruptcy protection seeking shelter from U.S. lawsuits (Case No. 15-10255-mkv).
• In February 2018, the firm won a bankruptcy case in the U.S. Supreme Court in Merit Management v. FTI Consulting, in which the Supreme Court limited the application of Rule 546(e) of the bankruptcy code.