Partner

Yvette Ostolaza

Commercial Litigation and Disputes
Crisis Management and Strategic Response
Energy
Securities and Shareholder Litigation
White Collar: Government Litigation and Investigations

yvette.ostolaza@sidley.com

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YVETTE OSTOLAZA is Chair of Sidley’s Management Committee. She is a member of the firm’s Executive Committee, former global Litigation co-leader, and former managing partner of the Dallas office. She is also a member of Sidley’s Post-Dobbs Task Force. Yvette is one of the world’s foremost business litigators, delivering winning results for clients at each stage of complex multijurisdictional commercial disputes and corporate investigations. Her litigation work and ability to solve her clients’ most difficult litigation problems have garnered her numerous accolades and recognitions, including Band 1 Chambers USA “Litigation: General Commercial – Texas: Dallas, Fort Worth & Surrounds” recognition in 2021 and 2022 and Benchmark Litigation “National Commercial Litigation Star” in 2021 and 2022.

Yvette is admitted in New York and Texas and litigates trial and appellate matters in U.S. state and federal courts on behalf of global clients. She has significant experience in MDL, activist defense, bankruptcy, arbitration, and securities litigation cases. She coordinates and tries proceedings in a variety of arbitration venues, serves on the Roster of Neutral Arbitrators for the AAA for commercial litigation matters, and sits on the CPR Panel of Distinguished Neutrals as an arbitrator for the International Institute for Conflict Prevention & Resolution. She served as the vice chair, Ethics and Investigations Subcommittee of the ABA Corporate Governance Committee.

Yvette is highly experienced in providing on-point guidance to boards and senior-level executives during periods of corporate turbulence. Chambers Crisis & Risk Management recognized Yvette as a leader of the firm’s Band 1 Nationwide USA Crisis Management practice for 2021 and 2022 and as one of a very small number of notable practitioners nationwide in the area of crisis management. She routinely leads complex internal investigations on behalf of companies, board committees, and individual directors, and she defends companies/directors in shareholder and securities class actions. Yvette currently serves on the board of directors of Lionsgate and has previously served on several nonprofit boards as well as the Board of the State Bar of Texas.

Recognitions

Yvette’s practice range, experience, and results have earned her extensive recognition. Most recently, she was honored by the Hispanic National Bar Association with the Mari Carmen Aponte Award. Yvette is only the second recipient of this award, which recognizes a “Latina lawyer who is the first to break a glass ceiling.” The Hispanic National Bar Foundation also recently honored Yvette with the 2022 “Firm Leadership Award.” This annual award recognized her for her “outstanding achievement and her commitment to diversity, equity and inclusion.” Additionally in 2022, as well as from 2012–2020, Yvette was named as one of the “Top 250 Women in Litigation” in the United States by Benchmark Litigation. In 2021, Chambers USA ranked her Band 1 in Litigation, with one client describing her as “a tremendous asset to have on your side and a natural leader who has the ability to manage all the moving parts of a team.” From 2009–2020, Yvette was annually among the highest ranked lawyers in General Commercial Litigation by Chambers USA. For example, in 2020 the journal noted that clients call her “a force of nature” with “every arrow in her quiver that you would want,” who “doesn’t look for the usual cookie-cutter, classic legal responses,” who has particular “expertise in whistleblower and investigation matters,” and is “so dynamic, her command of a room and her ability to get what she needs for a client is unmatched.” In 2019, an enthusiastic client told Chambers USA: “She could seriously convince you that the sky is purple; she’s that good an advocate.”

Yvette has also been recognized by multiple national and regional publications. Recently, Latino Corporate Directors Association recognized Yvette as a “Most influential Latina 2021.” The American Lawyer recognized Yvette as a “South Trailblazer” in 2021. Also in 2021 BTI Consulting recognized her as a Client Service All-Star based on feedback from top legal in-house counsel. Yvette was selected as one of D Magazine’s “Best Lawyers in Dallas” 2016–2022 in the Business/Commercial Litigation category, 2018 in the Security Litigation/Enforcement category; she was featured on DCEO’s “Dallas 500” list from 2015–2022. She was named to the 2020 and 2021 “Texas Trailblazers” list by Texas Lawyer, as well as the 2020 edition of The Best Lawyers in America. Yvette received the 2015 Texas Lawyer “Lifetime Achievement Award” and the “Thought Leadership” award from Corporate Counsel and Inside Counsel’s 2019 Women, Influence & Power in Law Awards. In 2013, she was named a “Rainmaker” by Diversity and The Bar magazine and honored in 2012 as one of the 20 “Most Powerful and Influential Women” in Texas by the Texas Diversity Council. Yvette has been recognized as one of “America’s Top 100 High Stakes Litigators”; she was listed in the inaugural Benchmark Labor & Employment guide in 2018 and was named a “National Practice Area Star” in both Commercial and Labor and Employment in Practices in Benchmark Litigation 2021. She has also been selected as one of 20 “Women of Excellence” honored nationwide by Hispanic Business magazine. Yvette was selected to appear in Latino Leaders Magazine 2018, 2020, and 2021 as a “Top Latino Lawyer” and is listed as one of the Most Powerful Latinas in Law.

Specific Recent Experience

Yvette’s significant experience managing multijurisdictional disputes — including class actions, business tort, securities/shareholder, consumer fraud, financial services, constitutional, contract, employment, fiduciary duty, advertising/sweepstakes, insurance, fraud, good faith and accounting malpractice litigation, arbitrations, simulations, and mediations — leads her to the top. Other aspects of her practice include counseling clients on reducing risks from consumer and advertising-related claims and representing clients in negotiations with state agencies on such claims, as well as advising private equity firms on litigation risks facing their portfolio companies. She is involved in the coordination and argument of appeals in courts across the United States, which includes the U.S. Supreme Court, the United States Court of Appeals, the Texas Supreme Court, and the Fifth District Court of Appeals in Dallas.

Her clients include significant companies in the aviation, retail, hospitality, financial/insurance, energy, and manufacturing industries. These include Airbus, Aspen Insurance, Arca Continental, MGM Resorts, Celanese, Deutsche Bank, Chuck E. Cheese Entertainment, Tuesday Morning Corporation, EnLink Midstream, Neiman Marcus, SM Energy, Sally Beauty, HMS Holdings, Michaels, Best Buy, Forterra, SAExploration, JPMorgan, McAfee, Inc., Darling Ingredients, Vistra, Hunt Oil, and Wise.
Yvette is often called on to represent these clients in their most important litigation matters. She is highly experienced in all aspects of litigation and trial work and often leads teams of lawyers handling large-scale and high-profile litigation. Recent representative matters include the following:

Represented an energy company in a high-stakes and confidential natural gas arbitration related to a complex oil and gas pipeline.
Leading a multistate team of litigators representing Aspen Insurance in COVID-19 business interruption coverage litigation involving multiple state and federal lawsuits in Florida, Illinois, Texas, Washington, Kansas, New York, and Missouri and putative class actions. In several of these cases, the courts have granted Aspen’s dispositive motions. Yvette’s work on these cases has produced several nationwide dismissals and recognition by The American Lawyer four times.
Successfully represented Neiman Marcus Group in a high-profile data privacy and wiretapping class action. After successful defense motions, the plaintiff voluntarily dismissed the case with minimal disruption to Neiman Marcus. Yvette’s work on this case resulted in recognition by The American Lawyer.
Representing Airbus in connection with a high-profile helicopter accident in the Grand Canyon.
Led a multipractice team of lawyers defending SAExploration in a series of civil, criminal, and regulatory complaints and investigations. Coordinated very favorable settlements with regulators and civil plaintiffs.
Led a team representing Texas Pacific Land Trust in a high-profile litigation against a group of dissident shareholders in the largest board proxy contest of the 2019 proxy season. The litigation was settled favorably and featured in the International Herald Tribune.
Represented Forescout Technologies in a successful arbitration resulting in the court granting a TRO request related to a breach-of-separation agreement with a former senior executive.
Obtained a complete dismissal of a lawsuit on behalf of Apache IS brought by a former employee.
Represented Forterera, Inc. in the successful resolution of a securities class action in which the plaintiffs sought US$250 million in damages but settled for US$5.5 million (including attorneys’ fees). The securities class action was significant because it is one of a handful of Section 11 cases filed in Texas.
Obtained a complete victory in a securities case that stemmed from an oil spill in California involving a pipeline owned and operated by Plains All American Pipeline. The team represented 37 investment banks who acted as underwriters for various securities offerings.
Represented the Navigators Group., Inc. in relation to alleged violations of Section 14(a) and 20(a) of the Securities Exchange Act of 1934 in connection with a proxy statement detailing The Hartford Financial Services Group Inc.’s US$2.1 billion acquisition of the company. Sidley was able to get a favorable resolution with no payment by the client.
Represented a client in a shareholder derivative action claims of breach of fiduciary duty, unjust enrichment, waste of corporate assets, and violations of Section 15(a) of the Securities Exchange Act of 1934.
Led a team advising a company providing sterilization services to the healthcare and food industries. The representation included providing strategic crisis management support, preparing toxic tort and environmental litigation defense strategy, and regulatory counseling.
Provided counseling and advice regarding business operations in response to the various government stay-at-home and business closure orders issued in response to the COVID-19 crisis to various companies. Advice included regulatory compliance, FDA, and labor and employment matters.

In addition, a significant portion of Yvette’s practice involves counseling boards, special committees, and directors on sensitive internal investigations including with respect to whistleblower, accounting, and executive issues. Her experience advising boards and conducting investigations includes:

Led the investigation of Best Buy’s CEO. At the conclusion of the investigation, Best Buy was sufficiently confident in Yvette’s work that it publicly announced its support for the CEO, who is still very successfully leading the company.
Advising and assisting in a confidential investigation, by the audit committee of a holdings corporation, of allegations made by a senior manager of financial accounting who, when being terminated, reported a series of alleged accounting-related errors. Sidley provided strategic support and counsel as the company approached imminent periodic report-filing deadlines, and it investigated the company’s accounting practices at the direction of its audit committee to test the veracity of the terminated employee’s allegations.
Leading an internal investigation into certain harassment and related allegations made by certain client distributors against another client distributor, and providing legal advice in connection with the internal investigation.
Representing an energy company in connection with an investigation by the Office of the Illinois Attorney General concerning alleged deceptive marketing practices in the sale of retail electricity supply in the State of Illinois.
Representing a multibillion dollar cybersecurity company in an internal investigation related to alleged vendor fraud and employee misconduct.
National manufacturer in an investigation involving reporting practices.
Fortune 200 company in an internal investigation involving certain claims processing.
Numerous internal investigations involving whistleblower, accounting, and executive issues.
Special committees of two nonprofit organizations involving board or senior management alleged misconduct.
Special committees of four different companies in connection with restatements, including companies in the financial services and energy industries.
Special and audit committees on investigations involving #me-too allegations against c-suite and board members.
Audit committees on an investigation involving FCPA claims.
Special committee of the board of Restoration Hardware with respect to an internal investigation of a whistleblower’s allegations concerning the company’s former CEO.
Special committee of the board of Southwest Airlines Co. with respect to an independent investigation into various FAA issues.
National Public Radio with respect to its internal review into the firing of Juan Williams following his controversial on-air remarks, the results of which were covered by the national news media.
Special committee and conducting an investigation on behalf of an international energy company on FCPA issues.
Special committee of the board of a recruiting firm with respect to an investigation of employment discrimination allegations.
Special committee of the board of Fossil, Inc. with respect to historic equity-granting practices.
Special committees of professional services firms in two investigations involving senior management and discrimination.
Fortune 50 retailer in confidential internal investigation involving an executive.
Conducting an internal investigation for a life insurance company regarding allegations related to management misconduct.
Assisting client in drafting legislative amendments related to congressional efforts to address COVID-19.

Community Involvement

Yvette is also recognized for her community involvement in charitable activities. In 2016, she was named a recipient of the Girls Inc. Women of Achievement Award. She has received the prestigious Dallas ADL Larry Schoenbrun Jurisprudence Award for her outstanding leadership and exemplary contributions to the community. She serves on the board of the AT&T Performing Arts and Dallas Theater Center.

Recently, The Center for American and International Law recognized Yvette as a Patrick E. Higginbotham Inns of Court “Master,” its highest designation. The Inns of Court Foundation is made up of both judges and lawyers and promotes competence, collegiality, integrity, and education in litigation practice.

*Not yet admitted to practice in Florida.

Experience

A sampling of Yvette’s representative litigation and investigations experience before joining Sidley includes:

Deutsche Bank and Barclays Bank — MGA Entertainment Inc. v. Deutsche Bank AG, et al., Case No. CV 11-4932-GW (RZx) — Lead litigation counsel in California federal diversity action involving in excess of US$500 million in damages alleging fraud diversity. Obtained motion to dismiss for forum non conveniens and motion to stay.
Ability Insurance Company — Phyllis Schultz v. Ability Insurance Company, et al.; Hull et al. v. Ability Insurance Company — National coordinating counsel for defendants in multiple cases in U.S. federal courts in Montana, South Dakota, Iowa, and Washington state in which long-term care policyholders allege fraud, bad faith, and various other torts.
CEC Entertainment, Inc. — Denise Keller v. CEC Entertainment, Inc., Case No. 3:11-CV-00629 — Lead litigation counsel in California class action filed against Chuck E. Cheese for alleged illegal gambling.
Zale Corporation — In re Zale Corporation Securities Litig., No. 3:09-CV-2133-B — Litigation counsel in Texas class action filed against Zale Corporation alleging securities fraud. Obtained dismissal with prejudice, affirmed by the Fifth Circuit.
Halliburton Company — Lead litigation counsel in state and federal derivative actions involving FCPA issues. Obtained favorable, no-money settlement.
MasterCard International Incorporated — Lead litigation counsel in state court consumer class actions filed in Arizona, Arkansas, Florida, Tennessee, and Texas, as well as chargeback cases. Argued and defeated class certification in Arizona, Florida, and Texas cases. Garza v. MasterCard International Corporation, Cause No. C-1833-04-F; Salazar et al. v. MasterCard International, LLC, Cause No. 03-01555-00-0-H; Hernandez et al. v. MasterCard International, Inc., Cause No. C-1056-03-C; Gastineau v. MasterCard International, Inc., Case No. CV-2004-483; Perry v. MasterCard International, Inc., Case No. CV-2003-007154; Rubin v. MasterCard International LLC, Case No. 03-09368-CA 20; Phillips v. MasterCard International LLC, Case No. 05-2004-CA22466; Harding v. Visa International et al., Case No. C-03-04190 VRW; In Re Supra Telecommunications and Information Systems, Inc. v. MasterCard Incorporated, Case No. 02-41250-BKC-RAM.
Healthmarkets, Inc. f/k/a UICI Corporation, Mega Life and Health Insurance Company, and Mid-West Life Insurance Company of Tennessee — Lead counsel acting as national coordination counsel for multidistrict litigation case In Re UICI “Association Group” Insurance Litigation, Docket No. 1578 (Judicial Panel on Multidistrict Litigation, D.C.) and more than 30 individual agent and class action cases in multiple states, including cases in Arkansas, California, Colorado, Idaho, Mississippi, New Mexico, Oklahoma, and Texas. Argued before JPML Panel.
Pilgrim’s Pride Corporation — In Re Pilgrim’s Pride Corporation, et al., Case No. 08-45664(DML) — Tried case before bankruptcy judge involving grower contracts. Complete win and judgment entered in Pilgrim’s favor.
Phone Directories Company — Phone Directories Company v. User-Friendly, Inc., No. CJ-2007-7558 — Successfully defeated TRO by competitor in yellow book industry filed in Oklahoma.
Mid-West National Life Insurance Company of Tennessee — Howard Myers v. Mid-West National Life Insurance Company, Case No. 04-DV-00396 LTB (KLM) — Obtained defense summary judgment against all claims asserted by plaintiffs and costs awarded to the client.
American Credit Educators LLC and American Fair Credit Association, Inc., v. United Credit National Bank, et al. — Civil Action No. 00-B-215 (Consolidated with 00-B-422) (PAC) — Subprime credit card litigation.
HIT Entertainment, Inc. — Djurisic v. Apax Partners, Inc., et al., Civil Action No. 07CV3703 — Lead class action counsel in lead-based products litigation filed in Illinois. Obtained dismissal of Apax and HIT without paying any money and subsequent favorable settlement with manufacturer where HIT obtained millions.
Eagle-Picher Industries, Inc. — Eagle-Picher Technologies, LLC v. Isonics Corp., AAA No. 71 Y 198 00175 01 — Approximately US$50 million purchase price arbitration.
PricewaterhouseCoopers, LLP — Tharp v. Lovelace et al., Case No. DF04-01687-B and TIG Insurance Co. et al. v. Coopers & Lybrand, LLP et al., Cause No. 97-04065 — Malpractice and fraud cases.
Credicorp, Inc. — Allec v. Credicorp, Inc., Case No. GIC757412 — Putative consumer class action involving financing issues.
Allied Marketing Group — Citizens’ Action Council v. Allied Marketing Group, Inc., No. GIC 783870 (Sup. Ct., San Diego County, California) — California consumer representative action where plaintiff filed private attorney general action.
MCI — In the matter of the Arbitration of: MCI Worldcom Network Services Inc. v. Telephone Electronics Corporation, No. 1310015134 (JAMS) — Obtained favorable prejudgment escrow resulting in immediate settlement in favor of MCI.
Zale Corporation — Campbell v. Zale Corporation, Case No. 306CV0404-B — Lead counsel in ADEA case and arbitration involving former executive.
High Caliber Gun & Knife Shows, Inc. — HC Gun & Knife Shows Inc. v. City of Houston, Case No. 98-20497 (U.S. Court of Appeals, Fifth Circuit) — Lead counsel in litigation challenging a Houston city ordinance regulating gun shows conducted on city property. Obtained partial summary judgment granting declaratory and injunctive relief, affirmed on appeal.
Barclays Capital; Banc of America Securities; Goldman, Sachs & Co.; Citi — Litigation counsel in a cash tender offer by Tenet Healthcare Corporation, owner and operator of acute care hospitals, for up to US$800 million of its outstanding 7.375% Senior Notes due 2013.
Barclays Capital; Banc of America Securities; Goldman, Sachs & Co.; Citi — Litigation counsel in acute care facilities and services provider Tenet Healthcare Corporation’s US$600 million private placement of 8% Senior Notes due 2020, advising Barclays Capital, Banc of America Securities, Goldman, Sachs & Co., Citi, and other managers.
MGM Mirage — Lead litigation counsel in US$845 million offering of 9% Senior Secured Notes due 2020 by one of the world’s largest gaming, hospitality, and entertainment companies.

Yvette is actively engaged in pro bono service. She works with Disability Rights Texas, representing a putative class of intellectually disabled residents of nursing facilities in their quest to obtain access to community-based facilities, and she was awarded the 2013 Pro Bono Award by Disability Rights Texas.

Yvette is also actively engaged with litigation challenging the public charge rule as a violation of the Administrative Procedure Act. In 2020, a Sidley team won a judgment vacating the rule on behalf of the Illinois Coalition for Immigrant and Refugee Rights.

Yvette also represents a class of individuals with intellectual and developmental disabilities on behalf of the Coalition of Texans with Disabilities. The lawsuit asserts that the individuals are unnecessarily institutionalized in nursing facilities in violation of federal law.

Disruptive Innovation, Harvard Business School, 2021
Legal Services Corporation, Leaders Council
Litigation Counsel of America, Senior Fellow

Credentials

Admissions & Certifications

U.S. Court of Appeals, 5th Circuit
U.S. Court of Appeals, 6th Circuit
U.S. Court of Appeals, 7th Circuit
U.S. Court of Appeals, 9th Circuit
U.S. Court of Appeals, 10th Circuit
U.S. District Court, District of Colorado
U.S. District Court, E.D. of Michigan
U.S. District Court, E.D. of Texas
U.S. District Court, W.D. of Texas
U.S. District Court, N.D. of Texas
U.S. District Court, S.D. of Texas
New York
Texas

Yvette Ostolaza

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Admissions & Certifications

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