Yolanda C. Garcia

Yolanda’s representations at Sidley include:

• Forterra, Inc. and Lone Star Funds in an arbitration arising from Lone Star’s US$1.4 billion acquisition of Hanson Building Products from affiliates of HeidelbergCement AG.
• Forterra, Inc. in a consolidated Delaware derivative proceeding, resulting in complete dismissal of one case and a voluntary refiling and stay of the other case.
• Forterra, Inc. in the successful resolution of a significant securities class action lawsuit.
• Aspen Insurance Holdings Limited as national counsel in COVID-19-related litigation.
• SAExploration Holdings, Inc. in a shareholder derivative action asserting claims of breach of fiduciary duty, unjust enrichment, waste of corporate assets, and violations of Section 14(a) of the Securities Exchange Act of 1934.
• Ushio America and numerous individual defendants in an adversary proceeding for fraud and breach of fiduciary duty brought in bankruptcy court in Houston, Texas.
• Texas Pacific Land Trust, one of Texas’ largest landowners with over 900,000 acres in the Permian Basin, and its incumbent trustees in a proxy contest and related litigation against a group of dissident shareholders.
• An oil and gas company in a high-stakes natural gas arbitration in front of the International Chamber of Commerce’s International Court of Arbitration.
• A private equity firm in connection with its investment in a newly formed joint venture that will own and operate a textile manufacturing plant.

A sampling of Yolanda’s extensive experience prior to joining Sidley includes:

Litigation

• Underwriters of an initial public offering for an online dating company in a Section 11 securities class action matter. Obtained favorable dismissal at the pleading stage.
• KJH et al. v. Turnberry/MGM Grand Towers, LLC et al. (in federal district court and federal bankruptcy court in Las Vegas, Nevada). Counsel for MGM Resorts International and several other MGM entities in a multidistrict securities and fraud case brought by investors in the Signature at MGM Grand. Plaintiffs claim that sales of the Signature combined with alleged promises about rental income created a security under Section 12(a) of the federal securities laws, and that such promises violated Rule 10b-5 of the 1934 Act and analogous portions of Nevada state securities laws. Successfully litigated multiple motions to dismiss including on federal and state securities claims and misrepresentation theories.
• American Airlines, Inc. (in state and federal court Tarrant Cnty, Tex.) – American Airlines, Inc. v. Sabre Travel Network and American Airlines, Inc. v. Travelport – Trial counsel for American in lawsuits brought in state and federal court against the two largest global distribution systems for antitrust violations under state and federal laws, tort claims, and breach of contract claims related to American’s new distribution vision, Direct Connect. Negotiated an extremely favorable settlement of the state court matter following voir dire and six days of trial.
• American Airlines (Dist. Ct. Tarrant Cnty, Tex.) – Pinellas Park Retirement System (General Employees) v. Arpey – Defense of shareholder derivative action against directors. Obtained dismissal of action.
• Zale Corporation (N.D. Tex.) – Represented Zale in securities fraud suit. Obtained dismissal of action. Upheld on appeal.
• Halliburton Company (Dist. Ct. Harris Cnty, Tex.) – Lead litigation counsel in state and federal derivative actions involving FCPA issues.
• Texas Rangers (Bankr. N.D. Tex.) – Lead litigation counsel in restructuring of Texas Rangers culminating in the sale of the franchise via a historic auction.
• SemGroup L.P. (Bankr. Del.) – Co-lead counsel in US$600 million+ litigation involving oil and gas producers resulting in successful restructuring for the client.
• The Williams Companies, Inc. (Dist. Ct. Tulsa Cnty, Okla.) – Counsel for The Williams Companies in a putative class action regarding a proposed merger. The case was settled favorably and the merger was successfully completed.
• Hawkeye Renewables LLC (Bankr. Del.) – Litigation counsel in highly contested successful Chapter 11 restructuring.
• Medical Media Holdings, LLC (Dist. Ct. Dallas Cnty, Tex.) – Litigation counsel in two separate matters involving trade secret misappropriation and restrictive covenants.
• Confidential Representation – Counsel for large specialty contractor in confidential internal investigation of allegations made by former employee concerning employment practices and successful mediation of potential wrongful termination claim.
• Confidential Representation – Retained to conduct confidential internal investigation for large corporation regarding allegations made by former employee and threatened lawsuit.
• Confidential Representation – Retained to conduct confidential internal investigation for large corporation regarding threatened lawsuit.
• Caruso v. Sunterra Corp. (D. Nev.) – Counsel for Sunterra Corporation, inside and outside directors, and officer in federal derivative action, asserting claims under, inter alia, Section 14(a) of Securities Exchange Act of 1934, Section 304 of the Sarbanes-Oxley Act of 2002, breach of fiduciary duty due to insider trading, and abuse of control.
• Saullo v. Sunterra Corp. (Dist. Ct. Clark Cnty., Nev.) – Counsel for Sunterra Corporation, inside and outside directors, and officer in state derivative action, asserting claims under, inter alia, unjust enrichment and breach of fiduciary duty.
• Sickles v. Sunterra Corp. (D. Nev.) – Counsel for Sunterra Corporation, inside and outside directors, and officer in federal shareholder class action, asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
• In re Williams Sec. Litig. (N.D. Okla.) – Counsel for outside directors in federal shareholder class action, asserting claims under Sections 11 and 12 of the Securities Act of 1933.
• In re UICI Sec. Litig. (N.D. Tex.) – Counsel for HealthMarkets, Inc. (f/k/a UICI) and former officers and directors in federal shareholder class action, asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
• In re UICI Derivative Litig. (Dist. Ct. Tarrant Cnty., Tex.) – Successfully represented HealthMarkets, Inc. in shareholder derivative litigation, obtaining grant of special exceptions under Delaware law based on demand futility; subsequent favorable settlement.
• Allen V. Scheiner v. i2 Techs, Inc. (N.D. Tex.) – Counsel for underwriters in federal shareholder class action, asserting claims under Section 10(b) of the Securities Exchange Act of 1934.
• Coates v. Heartland Wireless Communications (N.D. Tex.) – Counsel for Heartland Wireless in federal shareholder class action, asserting claims under Section 10(b) of the Securities Exchange Act of 1934.
• In re CFS - Related Sec. Fraud Litig. (N.D. Okla.) – Counsel for Arthur Andersen LLP in federal shareholder action, asserting claims under Section 10(b) of the Securities Exchange Act of 1934.

Arbitrations

• DAK Americas LLC; DAK Fibers LLC; Alpek, S.A. de C.V.; and ALFA, S.A. de C.V. – Counsel in threatened arbitration proceeding worth more than US$30 million that settled favorably for client prior to arbitration demand being filed.
• The Boeing Company v. Hughes Electronics Corporation – Counsel for Hughes Electronics in a purchase-price adjustment arbitration against Boeing resulting from the sale of Hughes’ satellite business to Boeing. Boeing sought adjustments of more than US$650 million in the arbitration, which was conducted by KPMG LLP. The confidential resolution was favorable for Hughes.
• The Raytheon Company v. Hughes Electronics Corporation – Counsel for Hughes Electronics in a purchase price adjustment arbitration resulting from the sale of Hughes’ defense business to Raytheon. Raytheon asserted under a number of accounting and legal theories that it was entitled to adjustments of millions of dollars. The matter was ultimately settled in combination with other disputes between the parties.
• Robert C. Petersen v. ENSR Corporation – Co-lead counsel representing ENSR Corporation in employment-related arbitration proceeding that settled favorably for client.

Some of the above matters were handled prior to joining Sidley.

Academic

• 2005 – 2006: Higginbotham Inn of Court Associate Member
• Order of the Coif

Public Service and Professional Activities

• 2013: Board of Directors, Concilio
• 2013: Fellow, Dallas Bar Foundation
• 2013: Member, Leadership Council of Legal Diversity Fellows
• 2013: Member, Dallas Bar Association
• 2010 – Present: Advisory Board, Dallas Hispanic Bar Association
• 2011: Dallas Bar Association Mentor/Mentee Program
• 2010: Fellow, Texas Bar Foundation
• 2010: Member, State Bar of Texas Racial Diversity in the Profession Committee
• 2008 – 2009: Board of Directors, Dallas Women Lawyers Association
• 2004 – 2012: Hispanic Women’s Network
• 2001 – Present: Board of Directors, Penrose Foundation
• Keynote Speaker at MACE Scholarship – “Seven Seconds: Crossing the Stage at a College Graduation Transforms Individuals and Communities”
• Keynote Speaker at Fort Worth ISD Leadership Conference – “Creating a Vision for Success”
• Speaker at numerous Career Days