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The firm was founded in November 2009 in Austin with 9 lawyers who had previously worked at Latham & Watkins, Diamond McCarthy and the United States Department of Justice with William T. Reid, IV, P. Jason Collins, and Lisa S. Tsai serving as founding partners.
In 2010, hedge fund Highland Capital Management hired the firm to represent their interests in a suit against Credit Suisse on a contingency-fee basis.
In October 2011, RCT partner Marina Marmolejo was appointed as a federal judge of the United States District Court for the Southern District of Texas.
In 2013, the firm opened a Dallas office with Eric Madden and J. Benjamin King as bankruptcy litigation partners, joined later by Brandon V. Lewis.
In October 2014 the Dallas office moved to Thanksgiving Tower.
In November 2018, the firm added former Munger, Tolles & Olson partner Marc T.G. Dworsky as a partner.
In March 2021, the firm opened a Wilmington, Delaware office with Jonathan Kass as a partner and Norman Monhait as counsel.
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Reid Collins & Tsai may also be known as or be related to Reid Collins & Tsai, Reid Collins & Tsai LLP and Reid Collins & Tsai Llp.