Christopher J. Gray

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Christopher J. Gray has spent most of his career representing individuals and small businesses in complex litigation, arbitration, class actions, and trials and appeals in state and federal court. Specifically, he has significant experience representing investors in arbitration proceedings before the Financial Industry Regulatory Authority (“FINRA”, formerly the National Association of Securities Dealers) and the National Futures Association and has obtained substantial recoveries in a number of cases.

Mr. Gray holds a J.D. degree from Georgetown and a B.A. from the University of Wisconsin. He is admitted to the bar in New York in 1997 and is a member of the bars of the U.S. District Courts for the Eastern, Southern and Western Districts of New York, the U.S. District Court for the Eastern District of Texas, the U.S. District Court for the Northern District of Ohio, the U.S. Court of Appeals for the Second Circuit and the U.S. Supreme Court. Mr. Gray is also a member of the New York State Trial Lawyers Association and the Public Investors Arbitration Bar Association (in which he serves on the Legislation and Self-Regulatory Organization Committee).

Mr. Gray has significant experience representing investors in arbitration proceedings before the Financial Industry Regulatory Authority (“FINRA”, formerly the National Association of Securities Dealers) and the National Futures Association and has obtained substantial recoveries in a number of cases. In 2011 Mr. Gray obtained a recovery of $765,000 on behalf of investors who alleged that respondent brokerage firm had sold them volatile mortgage REITs via misrepresentations and omissions of material fact. See Raubvogel v. Credit Suisse, FINRA Case No. 09-02906. In 2008 alone, Mr. Gray obtained two arbitration awards at trial for investors in which the sums awarded substantially exceeded the investors’ actual losses in the accounts with the brokerage firms. See, e.g., Meier v. U.S .Financial Group, Inc., National Futures Association Arbitration No. 07-01185 (awarding investor defrauded by “churning” and excessive commissions a refund of all of his losses, plus additional punitive damages, jointly and severally against introducing brokerage firm and its employees and owners).

In court, Mr. Gray has also achieved notable results for his clients in many instances. In 2011, Mr. Gray and co-counsel obtained a pre-judgment attachment of $72.4 million against a master fund entity (Amaranth LLC) associated with the now-defunct hedge fund known as Amaranth. The Amaranth master fund had sought to distribute the $72.4 million to its feeder fund investors (including offshore entities) and also to its former employees as deferred compensation. See In re Amaranth Natural Gas Commodities Litig., No. 07-CV-6377 (SAS). In 2006-07, Mr. Gray served as court-appointed Lead Counsel in a class action in the Supreme Court of the State of New York, in which the plaintiff obtained class certification and secured a substantial recovery for a class of shareholders of a former Nasdaq-listed corporation. The class included shareholders who were involuntarily cashed out of the stock of Niagara Corp. pursuant to a reverse stock split. (Spring Partners, LLC v. Scharf, Docket No. 601004/05). Minority shareholders who were cashed out at $8.47 a share (where management later sold the company for $16.00 a share in a going private transaction) who submitted proofs of claim to the settlement claims administrator received over $10.00 a share in additional consideration in connection with the settlement. Mr. Gray also formerly served as co-counsel in a class action against a major financial firm for failure to pay overtime wages to employees that was successfully resolved pursuant to a $43.5 million nationwide settlement.

As an associate attorney with his former firm, Mr. Gray assisted in representing the plaintiffs in a class action in which plaintiffs obtained reportedly the largest recovery ever under the Commodities Exchange Act, $145.35 million. See In re Sumitomo Copper Litig., 194 F.R.D. 480 (S.D.N.Y. 2000) (Pollack, J.) (certifying non-continuous class period of over two years). In 2002, Mr. Gray obtained a $1.01 million jury verdict in an action under Section 10(b) of the Securities Exchange Act of 1934. (Herbert Black v. Finantra Capital, Inc., S.D.N.Y. Docket No. 02-CV-6819 (JSR)). In 2002, Mr. Gray investigated and filed the first class action complaint alleging accounting fraud against WorldCom. (Albert Fadem Trust v. Worldcom, Inc., S.D.N.Y. Docket No. 02-CV-3288 (DLC) (alleging massive accounting fraud in April 2002, some two month before Worldcom’s fraud was “revealed”). Mr. Gray also investigated, filed and argued procedural motions in In re Avista Corp. Sec. Litig., U.S. District Court for the Eastern District of Washington Docket No. 02-CV-328 (FVS), a securities class action that was later settled for over $9 million.

With his current and former firms, Mr. Gray has represented parties in the following nationally reported cases, among others:

In re Platinum and Palladium Commodities Litig., No. 10 Civ. 3617 (WHP), 2011 U.S. Dist. LEXIS 105040 (S.D.N.Y. Sept. 13, 2011)
re Platinum and Palladium Commodities

In re Amaranth Natural Gas Commodities Litigation, 711 F. Supp. 2d 301 (S.D.N.Y. 2010) (attaching $72.4 million in assets of hedge fund in action alleging manipulation of natural gas commodities futures by hedge fund) 269 F.R.D. 366 (S.D.N.Y. 2010) (certifying class); 612 F. Supp. 2d 376 (S.D.N.Y. 2008) (denying in substantial part defendants’ motions to dismiss complaint).
re Amaranth Natural Gas Commodities Litigation – 1
re Amaranth Natural Gas Commodities Litigation – 2
re Amaranth Natural Gas Commodities Litigation – 3

Crowe v. JPMorgan Chase & Co, No. 09-CV-778, 2009 U.S. Dist. LEXIS 107961 (S.D.N.Y. Nov. 18, 2009) (denying plaintiffs’ request that case not be consolidated with other shareholder actions against JPMorgan on behalf of shareholders of the former Bear Stearns Companies Inc.)
Crowe v. JPMorgan Chase & Co

Slayton v. American Express Co., 460 F.3d 215 (2d Cir. 2006) (obtaining reversal of U.S. District Judge’s ruling that shareholder class action on behalf of American Express shareholders against company and executive officers was untimely).
Slayton v. American Express Co.

Univest Network, LLC v. AT&T Corp., No. 04-CV-9868 (MGC), 2006 WL 1017679 (S.D.N.Y. Apr. 19, 2006) (holding that press releases incorporated by reference in prospectus for stock offering are statement deemed to be made as of the date of the prospectus for purposes of liability under Section 11 of Securities Act of 1933).
Univest Network, LLC v. AT&T Corp.

Sung ex rel. Lazard Ltd. v. Wasserstein, 415 F. Supp. 2d 393 (S.D.N.Y. 2006) (granting remand to Supreme Court of the State of New York granted; state law derivative action was not preempted under Securities Litigation Uniform Standards Act of 1998).
Sung ex rel. Lazard Ltd. v. Wasserstein

Berger v. Scharf, No. 600935/05, 2006 WL 825171 (N.Y. Sup. Ct. N.Y. Cty. March 29, 2006)(denying defendants’ motion to dismiss complaint in shareholder class action).
Berger v. Scharf

Black v. Finantra Capital, Inc., 418 F.3d 203 (2d Cir. 2005) (reversing district court’s grant of judgment notwithstanding verdict pursuant to Fed. R. Civ. P. 50(b) and restoring $1 million jury verdict won at trial).
Black v. Finantra Capital, Inc.

Cox v. Microsoft, 48 A.D.3d 215, 850 N.Y.S.2d 103 (Appellate Division 1st Dep’t 2008).
Cox v. Microsoft

In re Merrill Lynch & Co. Research Reports Securities Litigation (Ventura v. Merrill Lynch & Co.), 568 F. Supp. 2d 349 (S.D.N.Y. 2008).
re Merrill Lynch & Co. Research Reports Securities Litigation

In re FBR, Inc. Sec. Litig., 544 F. Supp. 2d 346 (S.D.N.Y. 2008).
re FBR, Inc. Sec. Litig.

In re eSpeed Inc Sec. Litig., 232 F.R.D. 95 (S.D.N.Y. 2005).
re eSpeed Inc Sec. Litig.

Multi-Juice, S.A. v. Snapple Beverage Corp., No. 02-CV-4635 (RPP), 2005 WL 1138470 (S.D.N.Y. May 12, 2005).
Multi-Juice, S.A. v. Snapple Beverage Corp.

In re Natural Gas Commodity Litig., 358 F. Supp. 2d 336 (S.D.N.Y. 2005).
re Natural Gas Commodity Litig.

James v. AT&T Corp., 334 F. Supp. 2d 410 (S.D.N.Y. 2004).
James v. AT&T Corp.

Albert Fadem Trust v. Duke Energy Corp., 214 F. Supp. 2d 314 (S.D.N.Y. 2002).
Albert Fadem Trust v. Duke Energy Corp.

Butigian v. Port Authority, 266 A.D.2d 133, 699 N.Y.S.2d 41 (1st Dep’t 1999).
Butigian v. Port Authority

Mr. Gray is married with three young children and resides in Greenwich, Connecticut. He enjoys ice hockey, biking and skiing.

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