People

William T. Reid IV

William T. Reid, IV (“Bill”) is a founding member of Reid Collins & Tsai, LLP, a leading litigation boutique, who has developed a national reputation for successfully trying complex commercial and financial cases.  A true trial lawyer, Bill has tried a wide range of civil and criminal cases to verdict before judges and juries in a career that has spanned almost three decades.

In 2014-15, Bill garnered national media headlines when he tried tandem jury and bench trials against Credit Suisse winning both and proving that Credit Suisse fraudulently syndicated a $540 million real estate loan. In September 2015, the trial court awarded a landmark $287.5 million judgment.  Bill successfully argued the appeal before the Dallas Court of Appeals, which affirmed the judgment. Earlier this year, he argued the final appeal before the Supreme Court of Texas and a final decision is expected in 2020, with a record-setting judgment hanging in the balance.

Bill’s considerable trial experience is as varied as the clients he represents. For three years as an Assistant United States Attorney during the 1990′s, he focused on complex drug and corruption prosecutions, trying 25 cases to verdict (securing 24 convictions) and prosecuting hundreds of cases annually. Since returning to private practice in 2000, he has put his experience to good use in the courtroom, rarely going a year without taking at least one commercial case to trial. Notably, Bill has yet to lose a jury trial since returning to private practice, and has obtained several top-100 trial judgments/verdicts for his plaintiff clients. He is currently managing a docket of plaintiff’s litigation seeking billions of dollars in damages.

In December 2017, acting pro bono, Bill won an acquittal in a public corruption case against Olga Hernandez, a San Antonio School Board member accused of bribery. In winning the Hernandez case, Bill not only achieved justice in thwarting the misguided prosecution but also accomplished what few trial lawyers achieve in their careers: jury trial wins as both civil plaintiff and defendant as well as criminal prosecutor and defense lawyer.

A seasoned commercial litigator, Bill has extensive experience trying a broad range of international, complex commercial and financial cases involving insolvency litigation, professional malpractice, business torts, fraud and complex financial transactions. In leading Reid Collins to its position as a go-to plaintiff ligation firm, Bill has handled multiple, high-stakes cases arising out of Ponzi schemes and cross-border frauds, as well as fiduciary litigation, professional liability cases, and bad-faith insurance actions.

He currently represents several public companies, numerous hedge funds, private equity funds, offshore liquidators, bankruptcy fiduciaries, and SEC receivers, among others.

Additionally, Bill has established the firm as an industry leader in professional malpractice claims, achieving numerous public – as well as a number of confidential – multi-million dollar settlements against law firms, accounting firms, and directors & officers.

Awards and Accolades:

Bill is recognized annually in national industry publications as a preeminent plaintiff’s trial lawyer.  Just recently, Benchmark named Bill the 2020 Plaintiff Attorney of the Year. He was named as a Plaintiff’s Trailblazer in 2019 by the National Law Journal and as a Trailblazer in 2019 by Texas Lawyer.  He was also named both a Top 100 Trial Lawyer in America and a Litigation Star by Benchmark Litigation in 2019 and again in 2020. Lawdragon has recognized Bill in its 500 best lawyers in the U.S. list for several years running, and Bill has been listed in the National Law Journal’s Top-100 verdicts twice since 2009.

Bar Admissions and Organizations:

Bill is admitted to practice in the United States Court of Appeals for the Second and Fifth Circuits, the United States District Courts for the Southern and Eastern Districts of New York, and all of the United States District Courts in Texas. He is a member of the American Bar Association, the Fifth Circuit Bar Association, the New York State Bar, and the State Bar of Texas.

Education:

After law school, Bill served as a law clerk to the Honorable Reynaldo G. Garza, United States Court of Appeals for the Fifth Circuit. He received his J.D., cum laude, from St. John’s University School of Law, where he was an editor of the St. John’s Law Review. Bill achieved a dual undergraduate degree – a B.A. in Economics and a B.S. in Accounting – from the University of Connecticut at Storrs, cum laude.

 

Notable Representations:

  • In December 2014, Bill won a three-week jury trial on behalf of certain Highland Capital Management funds after which a Dallas jury found Credit Suisse liable for fraudulent inducement and awarded his client $40 million in damages. In June 2015, Bill won a follow on three-week bench trial after which the trial court entered a $287.5 million judgment on all claims. The judgment is now on appeal. The claims against Credit Suisse stemmed from its role as syndication agent on a $540 million refinancing of the Lake Las Vegas debt. After winning an appeal in the New York Appellate Division, Bill and his team continue to prosecute parallel claims against Credit Suisse seeking an additional several hundred million dollars.
  • Bill continues to pursue several hundred million in damages against the former management of ChinaCast Education Corporation.
  • In just the last two years, Bill and his teams have secured over $1 billion in settlements and judgments.
  • Bill was co-lead counsel in a $250 million case against CBRE in connection with an appraisal it issued on the Lake Las Vegas development. Bill brought Munger Tolles & Olson into the case to act as his as co-counsel. The case was settled in 2013 for a confidential amount. The action was pending in Dallas District Court.
  • In 2013, Bill settled on confidential terms a $95 million legal malpractice case against an international law firm arising out of its negligent documentation of a CDO warehouse extension. The action was pending in Dallas District Court.
  • In October 2009, Bill won a $20.1 million jury verdict in San Antonio federal district court after a four-week trial in City of San Antonio v. Hotels.com, which is one of very few class actions to proceed to a jury verdict. The case was brought on behalf of 173 Texas cities over whether the online travel companies owed taxes on the retail amount that customers pay for the room rather than the wholesale or net rate that they pay taxes on.