PENNY REID is a partner in Sidley’s Commercial Litigation and Disputes practice and also serves in the Office of General Counsel of the firm. Penny focuses on coordinating and taking to trial complex civil litigations in state and federal courts throughout the country, including securities fraud, class actions, employment litigations and bankruptcy litigations. As a result of her accounting background, Penny is often called upon to handle matters involving accounting disputes and related internal investigations for major corporations. Penny also has extensive experience handling large domestic and international arbitrations before the American Arbitration Association (AAA) and the International Chamber of Commerce (ICC). She has argued appeals before the United States Court of Appeals and the Fifth District Court of Appeals in Dallas.
Examples of Penny’s recent engagements include several high profile cases for a wide range of companies in various industries, including:
- Representing a publicly traded company in an investigation of the causes of restatement of financial statement;
- Representing a publicly traded energy company in an employment workplace investigation;
- Representing a publicly traded company in an investigation of Sarbanes-Oxley non-compliance;
- Representing a publicly traded company in an investigation of FCPA claims;
- Representing a publicly traded energy company in a shareholder derivative litigation;
- Serving as trial counsel for a top 10 mortgage company in a misappropriation of trade secrets and non-solicit employment litigation and arbitration proceedings;
- Representing Helmerich & Payne, Inc., Helmerich & Payne International Drilling Co. in various indemnity and personal injury claims;
- Serving as trial counsel for Vivendi in a large securities class action and related individual securities actions;
- Serving as lead trial counsel for Crane in the business valuation arbitration, In the Matter of the Arbitration between Gerald J. Gartner, Claimant and Crane & Co., Inc.;
- Serving as litigation counsel for General Growth Properties, Inc., Lehman Brothers, and General Motors in matters relating to their bankruptcy filings; and
- Serving as lead trial counsel in In re: Footstar, Inc., a bankruptcy litigation against Kmart.
In recognition of her litigation success, the Dallas Association of Young Lawyers has presented Penny with its 2020 “Outstanding Mentor Award.” She has been named a “Best Lawyer” in the area of Commercial Litigation (2014, 2016–2019) and specifically in the area of Commercial Litigation – Alternative Dispute Resolution (2013, 2015) by The Best Lawyers in America from 2013–2020. Penny also has been acknowledged since 1997 as a “Super Lawyer” in Business Litigation and Securities Litigation in the New York and/or and Texas editions of Super Lawyers directory. Her experience was further recognized by Benchmark Litigation in 2015 as a Texas “Local Litigation Star” and again in 2016 and 2017 in the areas of General Commercial, Professional Liability and Securities.
Prior to returning to Dallas, Texas in 2012, Penny lived and practiced in New York, NY for eight years.
Admissions & Certifications
- U.S. Court of Appeals, 2nd Circuit
- U.S. Court of Appeals, 5th Circuit
- U.S. District Court, S.D. of New York
- 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
- The University of Texas School of Law, J.D., 1989 (with honors)
- University of Texas at Austin, B.B.A., 1986 (with honors)