Yvette Ostolaza
- Commercial Litigation and Disputes
- Securities and Shareholder Litigation
- White Collar: Government Litigation and Investigations
YVETTE OSTOLAZA is a member of Sidley’s Management and Executive Committees, the managing partner of the Dallas office, global co-leader of the Litigation practice and a member of the firm’s COVID-19 Task Force. She has developed a national reputation as a versatile lawyer who excels in all aspects of complex disputes and investigations.
Yvette litigates matters in U.S. state and federal trial and appellate courts on behalf of global clients. 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 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. She regularly leads complex internal investigations on behalf of companies, board committees, and individual directors and defends companies/directors in shareholder and securities class actions.
Yvette’s range, experience and results have earned her extensive recognition. From 2009–2019, Yvette has been ranked as a leading General Commercial Litigator by Chambers USA, which has 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.” She has been recognized as one of America’s Top 100 High Stakes Litigators and in the inaugural Benchmark Labor & Employment guide in 2018. Yvette has been selected as one of the “Best Lawyers in Dallas” 2016–2019 in the Business/Commercial Litigation category, 2018 in the Security Litigation/Enforcement category and featured on DCEO’s “Dallas 500” list from 2015–2019. She received the 2015 Texas Lawyer Lifetime Achievement Award and the “Thought Leadership” award by 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, and in 2012–2020 as one of the “Top 250 Women in Litigation” in the United States by Benchmark Litigation. One enthusiastic client added: “In litigation no matter what your circumstances, she can put you in the position—no matter what happens she’ll be there with you.” She has also been selected as one of 20 “Women of Excellence” honored nationwide by Hispanic Business Magazine. Yvette has been selected to appear in Latino Leaders Magazine 2018 and 2020 as a Top Latino Lawyer and is listed as one of the Most Powerful Latinas in Law. Finally, she served on the Board of Directors of the State Bar of Texas.
She also is recognized for her community involvement in charitable activities. In 2016, Yvette was named a recipient of The Girls Inc. Women of Achievement Award. She has received the prestigious Dallas ADL Schoenbrun Jurisprudence Award for her outstanding leadership and exemplary contributions to the community.
Her 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 and 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 U.S., 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 Airbus, 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, Sterigenics, Forterra, SAExploration, JPMorgan, Regus, McAfee, Inc., Darling Ingredients, and Hunt Oil. She has advised many Board Special Committees, including Southwest Airlines, Fossil, Key Energy and NPR.
Yvette’s recent representations prior to joining Sidley illustrate the breadth of her practice. They include:
- Representation of MGM Resorts, Inc. in multi-jurisdiction litigation.
- Representation of Barclays Bank, Commerzbank and Deutsche Bank in a multi-hundred million dollar fraud litigation brought by MGA Entertainment in California federal court with respect to MGA’s acquisition of a failed French toymaker, Smoby, SA; obtained motion to stay the proceedings on forum non conveniens grounds and in favor of pending proceedings in France.
- Representation of a Special Committee of the Board of Halliburton with respect to a shareholder demand and subsequent litigation in Texas state court relating to FCPA issues; obtained a favorable, no-money settlement that was featured in The Wall Street Journal.
- Representation of Zale Corp., a national retailer, in securities fraud litigation in Texas federal court relating to an accounting restatement; secured dismissal with prejudice, later affirmed by the Fifth Circuit.
- Representation of Ability Insurance Company in numerous cases in federal courts in Montana, South Dakota, Iowa and Washington State in which long-term care policyholders allege fraud, bad faith and various other torts; to date, has secured numerous favorable rulings at the summary judgment phase.
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. Some of this recent experience before joining Sidley includes:
- Advising a 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.
- Advising a Special Committee of the Board of Southwest Airlines Co. with respect to an independent investigation into various FAA issues.
- Advising 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.
- Advising a Special Committee and conducting an investigation on behalf of an international energy company on FCPA issues.
- Advising a Special Committee of the Board of a recruiting firm with respect to an investigation of employment discrimination allegations.
- Conducting an independent investigation on behalf of a Special Committee of the Board of Fossil, Inc. with respect to historic equity granting practices.
Experience
- Representative Matters
- Pro Bono
- Memberships and Activities
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 $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 Florida, Texas, Arkansas, Tennessee and Arizona and chargeback cases. Argued and defeated class certification in Arizona, Texas and Florida 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 multi-district 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 our 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 $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 $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 $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 $845 million offering of 9% Senior Secured Notes due 2020 by one of the world’s largest gaming, hospitality and entertainment companies.
Representative Investigations
- Special Committee of Fossil, Inc. — Lead litigation partner engaged to conduct independent investigation involving historic equity granting practices; argued before Nasdaq and represented Committee before SEC.
- Special Committee of the Board of Restoration Hardware — Lead litigation partner engaged to conduct an investigation of whistleblower allegations relating to the former CEO.
- National Public Radio — Lead litigation partner engaged to conduct an internal review of the firing of Juan Williams in 2010 following his controversial on-air remarks about his feelings towards Muslims.
- Represented national manufacturer in investigation involving reporting practices.
- Represented special committee of professional services firm in independent investigation involving senior management and discrimination.
- Represented Fortune 50 retailer in confidential internal investigation involving executive.
- Represented Fortune 200 company in internal investigation involving certain claims processing.
- Numerous internal investigations involving whistleblower, accounting and executive issues.
Yvette is actively engaged in the 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 was awarded the 2013 Pro Bono Award by Disability Rights Texas.
- Legal Services Corporation, Leaders Council
- Litigation Counsel of America, Senior Fellow
Capabilities
- Commercial Litigation and Disputes
- Securities and Shareholder Litigation
- White Collar: Government Litigation and Investigations
- Alternative Dispute Resolution
- Aviation Litigation
- Bank/Financial Services Class Actions
- Business Torts
- Commercial Litigation Appeals
- Compliance Counseling - White Collar
- Consumer Products
- Consumer Products and Services Litigation
- Contract Litigation
- Copyright and Theft of Idea Litigation
- Crisis Management and Strategic Response
- Cybersecurity, Cybercrime and Data Breaches
- Derivatives
- Employment Litigation
- EU Litigation and Appellate
- FCPA/Anti-Corruption
- Financial Institutions Litigation
- Financial Reporting and Disclosures
- Food, Beverages and Cosmetics
- Government and Regulatory Investigations Concerning Accountants
- Healthcare Litigation
- Insider Trading
- Insurance and Reinsurance Litigation
- Insurance/Financial Services Class Actions
- Internal Investigations
- International Commercial Arbitration
- International Financial Institutions in the U.S.
- Investment Funds Litigation
- Labor and Employment Class and Collective Actions
- Labor, Employment and Employee Benefits Appeals
- Multidistrict Litigation
- Private Equity Litigation
- Private Securities Litigation
- Pro Bono Appeals
- Professional Liability Litigation Against Accountants
- Protecting Proprietary Information and Customer Relationships
- Search Funds
- Securities Litigation Against Accountants
- Trademark Litigation
- Trial Litigation
News & Insights
Credentials
Admissions & Certifications
- U.S. Court of Appeals, 5th 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 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
Education
- University of Miami School of Law, J.D., 1992 (magna cum laude)
- University of Miami, B.A., 1985 (with honors)
Languages
- Spanish