People

Lisa S. Tsai

Lisa Tsai is a founding partner of Reid Collins & Tsai. Lisa has represented clients in a wide variety of complex business litigation, including financial fraud cases, professional liability actions, fiduciary litigation, bank liability cases, insolvency cases, intellectual property litigation, securities and shareholder derivative lawsuits, class actions, and employment matters.  

Following a lengthy jury trial and bench trial, Lisa obtained a Top 50 Verdict in the United States and won a $287.5MM judgment against global investment bank Credit Suisse. From 2016 to 2019, Lisa has been named to the LawDragon 500 Leading Lawyers in America, which recognizes the most elite lawyers in the profession.  From 2014 to 2019, Texas Monthly listed Lisa as a “Super Lawyer” in Business Litigation.  This year, Lisa has been named to The Best Lawyers in America for her work with private funds and hedge funds.

Lisa received her J.D. with honors from the University of Texas School of Law and was elected to the Order of the Coif upon graduation. Lisa served as a member of the Texas Law Review, during which time she published her student note. Following law school, Lisa served as a judicial law clerk in the United States District Court for the Southern District of Texas.

Lisa received her A.B. in Politics, with Highest Honors, from Princeton University. While at Princeton, Lisa received the Lyman H. Atwater Prize in Politics for writing the best senior thesis in the Department of Politics. A portion of her thesis was published in the Asian American Policy Review, a journal published by the John F. Kennedy School of Government at Harvard University.

Lisa is licensed to practice law in both Texas and California. She is admitted to the State Bar of Texas, the State Bar of California, the Northern, Southern, Eastern, and Western Districts of Texas, the Northern, Central, and Southern Districts of California, the Fifth Circuit Court of Appeals, and the Ninth Circuit Court of Appeals. Prior to founding the firm, Lisa was a partner at a prominent litigation boutique and an associate at Latham & Watkins in Los Angeles.

Lisa is active in a variety of professional and community organizations, including having served as Chair of the State Bar of Texas Asian Pacific Interest Section, Chair of the Austin Bar Association Bench Bar Committee, President of the Austin Asian American Bar Association, Vice Chair of the City of Austin Ethics Review Commission, and Board Secretary of the Texas Fair Defense Project. Lisa has been honored as a Pathfinder by the Travis County Women Lawyers’ Association and received the Judge Suzanne Covington Pro Bono Service Award for her legal work on behalf of domestic violence victims.

Notable Representations:

  • Representation of Oaktree Capital Management in a lawsuit in Dallas County District Court against an oil and gas operator for breaching a Joint Operating Agreement. The lawsuit was successfully settled on confidential terms.
  • Representation of various funds that were defrauded into investing in a $540 million syndicated real estate loan arranged by Credit Suisse. After a three-week jury trial, a Dallas jury found that Credit Suisse fraudulently induced the Highland funds and awarded $40 million. That award was the #50 highest verdict in the USA that year. Following a three-week bench trial, the Dallas court awarded a $287.5 million judgment against Credit Suisse.
  • Representation of various funds in a lawsuit against CBRE in connection with its appraisal supporting a $540 million syndicated real estate loan arranged by Credit Suisse. Following fact and expert discovery, the lawsuit was successfully settled for a confidential amount.
  • Representation of various funds in a lawsuit seeking more than $100 million against Royal Bank of Scotland in connection with its alleged fraud in a collateralized debt obligation transaction. The lawsuit was successfully settled for a confidential amount.
  • Representation of various funds in a legal malpractice lawsuit against Orrick Herrington & Sutcliffe in connection with its work on a collateralized debt obligation transaction. The lawsuit was successfully settled for a confidential amount.
  • Representation of Highland Capital Management and NexBank in a $60 million breach of contract and fraud lawsuit against Gene Phillips and related entities in Dallas County District Court. The lawsuit was successfully settled for a confidential amount.
  • Representation of Grey Goose Bottling Company and a minority shareholder in a derivative action filed in Delaware Chancery Court, involving the breaches of fiduciary duty associated with the misallocation of the $2.5 billion purchase price paid by Bacardi Limited to acquire the Grey Goose Vodka label. The lawsuit was successfully settled for a confidential amount after the court issued a lengthy ruling denying the Defendants’ motion to dismiss.
  • Representation of the post-confirmation liquidating trustee in the USA Capital cases in Las Vegas federal court, which arose from a $960 million Ponzi scheme related to the management of a sub-prime mortgage servicer.
  • Representation of Versata Software (formerly Trilogy Software) in an intellectual property lawsuit filed against General Electric Company for breach of licensing agreement, copyright infringement, and misappropriation of trade secrets in Austin federal court. The lawsuit sought damages in excess of $50 million and was successfully settled for a confidential amount following fact and expert discovery.
  • Representation of Omni Loan Company, a Nevada consumer finance company that was sued in a class action in California state court seeking tens of millions of dollars. After a two-week bench trial, the trial court entered a total defense judgment dismissing with prejudice all claims against the company. The lawsuit was subsequently settled on appeal.
  • Representation of Rabobank International in pursuing negligence and fraud-based claims against PwC Mexico arising from the audits of a group of Mexican companies. The lawsuit was successfully settled for a confidential amount.
  • Representation of a group of more than 800 investor-creditors who were defrauded in a massive Ponzi scheme involving more than $300 million in losses. Lisa prosecuted the investors’ claims against a bank for aiding and abetting breach of fiduciary duty, which were successfully settled prior to trial.
  • Representation of an Austin business owner in a bad faith insurance case in Travis County District Court. Following a three-week jury trial, the jury issued a verdict in excess of $6 million, and the case was successfully settled on appeal.