For 18 months — from the last quarter of 2022 through the first quarter of 2024 — Tabitha Bailey faced trials and tribulations that few young corporate general counsel have encountered. As GC of Avantax, Bailey played a critical role in the $720 million sale of its TaxAct software business in October 2022. Days later, the Richardson-based wealth management firm became embroiled in an alleged data breach crisis that led to congressional inquiries, state and federal investigations, four class action lawsuits and hundreds of individual arbitrations, which required extensive communication with investors and the private equity fund buyer that was making noises about terminating the deal.
The excitement for Bailey was only starting. In the months that followed, Avantax faced its third activist challenge and proxy contest in three years, executed a $250 million tender offer, overhauled its executive compensation plan and successfully completed a $1.2 billion take-private merger with competitor Cetera. Earlier this year, the Association of Corporate Counsel’s DFW Chapter and The Lawbook honored Bailey with the 2023 DFW Corporate Counsel Award for General Counsel of the Year for a Midsized Legal Department. This is her story.