Charles Parker Joins Yetter Coleman

by Jessica Huseman, Staff Writer

Prominent securities litigator and corporate white-collar defense lawyer Charles R. Parker has joined Yetter Coleman, a Houston litigation boutique, as partner effective immediately.

Parker, who was at Locke Lord Bissell & Liddell for eight years, said Yetter Coleman, which has 32 lawyers in Houston and Austin, offered him the opportunity to “try complex cases with very talented fellow lawyers, and freedom from conflicts that are prevalent in the big firms.”

“Charlie adds tremendous depth with his complex commercial, securities and corporate white-collar defense litigation capabilities,” said Paul Yetter, the firm’s managing partner. “Charlie’s trial skills and strong character, combined with his outstanding reputation for tirelessly working on behalf of his clients, are a perfect fit with our team and firm culture.”

Parker was the lead trial lawyer in a 1989 case brought by limited partners against the general partner, Winthrop, for breach of fiduciary duties in the restructuring of the loans for what was then called First City Financial Tower in Houston. Parker determined that Winthrop had entered into agreements benefitting it and the mortgage holders, which were joint investors in other properties in New York.

One witness in the trial was former Houston Oiler star running back Earl Campbell, who was a member of the limited partner group. The jury found that Winthrop’s conduct was intentional and constituted a breach of fiduciary duty. The jury awarded $45 million in damages, which led to a subsequent settlement.

Parker was one of the leading lawyers in the diet drug fen-phen litigation against drug maker Wyeth. Parker was involved in both individual plaintiff personal injury cases and led the class action in Texas, trying several cases to a verdict and eventually reaching favorable settlements in each one. A federal judge appointed Parker as the National Class Counsel for the Multi-District Litigation. The Fen-phen diet pill class action settlement resulted in payouts exceeding $4.5 billion with an additional $500 million to be paid in the future.

Parker said he is excited working with Paul Yetter and Reagan Simpson, who he calls “two outstanding and respected litigators,” and is looking forward to “the opportunity to work with, and mentor to, the great group of integrated trial and appellate lawyers they’ve assembled at Yetter Coleman.”

Jessica Huseman is a staff writer for the Texas LawBook. She can be emailed at jessica.huseman@texaslawbook.net.