Ray concentrates his practice on the trial and supervision of civil litigation in federal and state courts and in arbitration. For more than four decades he has represented a wide range of clients in complex cases, including securities, private equity, and hedge fund litigation; class actions; energy; ﬁduciary duty and partnership disputes; technology litigation; fraud, and bad faith litigation; and constitutional law.
Ray is Board Certiﬁed as a Specialist in Civil Trial Law by the Texas Board of Legal Specialization.
He also has substantial appellate experience, having argued dozens of cases before the United States and Texas Courts of Appeals, three cases before the Texas Supreme Court, and panel and en banc arguments before the Delaware Supreme Court — and significant experience in national and international arbitration.
Successful trial defense of a multi-billion-dollar fraudulent transfer suit arising out of a corporate spinoff.
Defense of a limited partnership against $80 million claim by one limited partner, prevailing by summary judgment.
Arbitration among co-trustees of a foundation, prevailing in an award—judicially confirmed—in favor of clients against former co-trustee.
Representation of a bank in successfully opposing class certification in a case in which the plaintiffs sought $24 billion in damages on behalf of the supposed class.
Representation of a Texas District Judge in litigation against the City of Dallas, including successful defense of the City’s appeal of pretrial rulings through the Supreme Court of Texas.
Successful arbitration of a dispute between co-owners of a major professional sports franchise.
Representation of a corporation in the successful defense of a Section 220 trial in the Delaware Court of Chancery, obtaining a judgment denying the shareholder’s demand for production of books and records, and successfully arguing for affirmance before the en banc Delaware Supreme Court.
Representation of a U.S. company in an international arbitration in Geneva against the company’s Greece distributor, obtaining an award that the distribution agreement had been breached and denying the distributor’s 100 million euro claim in its entirety.
A successful constitutional attack, on behalf of a consortium of paging companies, on a $750 million Texas statutory assessment, overturning the statute.
A landmark appeal, argued before the Texas Supreme Court, establishing that Texas banks do not owe a duty of good faith and fair dealing in a commercial lending transaction.
A successful appeal to and argument before the United States Court of Appeals for the Fifth Circuit, overturning a trial court decision that invalidated a bank’s guaranties and imperiled the FDIC’s recovery on loans made by the failed bank.
University of Texas School of Law, J.D.,1976, high honors
Grand Chancellor – Highest Ranking Graduate
University of Texas B.S.M.E., 1973, highest honors
Highest Ranking Graduate
Schreiner University. A.A., 1971, highest honors
Honorable Thomas Gibbs Gee of the United States Court of Appeals for the Fifth Circuit
US Court of Appeals 3rd Circuit
US Court of Appeals 4th Circuit
US Court of Appeals 5th Circuit
Texas State Courts
Eastern District Texas
Northern District Texas
Southern District Texas
Western District Texas
US Tax Court
Southern District New York
New York State Courts
Named to D Magazine’s list of The Best Lawyers in Dallas, 2018
Profiled as a “Lion of the Texas Bar” by The Texas Lawbook, 2017
Recognized by Best Lawyers in America*, including for General Commercial Litigation, Banking & Finance Litigation, and Securities Litigation, 2006-2019
“Lawyer of the Year” for Securities in 2017 and for Litigation – Banking and Finance in 2019.
Named by Benchmark Litigation as a “Local Litigation Star” in Texas for General Commercial Litigation, 2014-2019
Repeatedly recognized as a “Super Lawyer” for Business Litigation by Texas Super Lawyers.
Recognized as a recommended lawyer for Commercial Litigation nationally by Legal 500, 2015
Dallas Business Journal and the Association of Corporate Counsel named Ray one of the “Defenders” – the top 15 business defense attorneys in Dallas-Fort Worth, 2007
Former member of the Advisory Board of the Bridge transition assistance center
Former member of the Board of Directors of ActBeyond, a Christian mission organization
Deacon and past chair of the Deacon Council at First Baptist Church of Richardson
“Email Messages at Trial,” Dallas Bar Association Newsletter, October 2020 (pg. 22)
April 22, 2020
January 7, 2020