Jeffrey H. Gray


Virginia Beach
Business Phone: 757.687.7519
Business Fax: 757.687.1554


Jeff Gray’s practice includes litigation involving business disputes, securities, banking, accounting, trusts and estates, and financial issues. Much of his practice involves the representation at trial of "target defendants" such as financial institutions, business entities, and securities industry members. Jeff has extensive experience litigating investment and securities disputes, as well as defending securities industry members and investment professionals in investigations or disciplinary proceedings by government agencies and self-regulatory organizations.

Jeff also has a substantial background in litigation involving professional liability defense, employment issues, unfair competition and trade secrets as well as commercial real estate disputes. Jeff is a graduate of the National Institute for Trial Advocacy Program. Because of his successes before juries, judges and arbitrators in numerous trials, Jeff frequently is involved in litigation that is likely to go to trial and in pre-litigation counseling.

Representative Experience

  • Successfully resolved suit by bank client against lead lender in a loan participation agreement, involving claim that the lead lender improperly amended and reinstated large loan in the face of objections by client.
  • Assisted bank that purchased assets of failed financial institution from FDIC in dealing with its most challenging credits in a portfolio of nonperforming loans totaling roughly one half billion dollars. Bank ultimately received accolades from the FDIC regarding its efficient and cost effective performance under the FDIC’s “Loss Share Program” for dealing with failed bank assets and limiting/reducing claims to the FDIC’s deposit insurance fund.
  • Obtained a $9 million judgment and upheld the judgment on appeal against an originator and servicer of mobile home loans who had defrauded lender that funded the loans. Convinced the federal court to award the judgment as a discovery sanction, without the need for a trial.
  • Successfully litigated and settled a claim on behalf of a lender against its fidelity bond carrier. The claim involved losses sustained as a result of dishonesty by an independent loan originator and servicer arising from a portfolio of nearly 2,000 loans.
  • Successfully resolved Congressional and FDIC inquiries into bank’s loan workout and collection practices.
  • Successfully resolved national bank’s claims against dishonest executor and trustee of decedent bank customer, including obtaining order of contempt and order of monetary sanctions against executor/trustee.
  • Defeated multimillion dollar mechanics lien claim on behalf of a national bank that loaned significant amounts for development of large subdivision near Washington, D.C., thereby preserving the bank’s lien priority.
  • Successfully prepared a claim and obtained a multi-million dollar settlement on behalf of a lender against the liability carrier for its directors and officers. The claim involved highly sensitive allegations of dereliction of duty by the lender’s top management and was resolved without publicity or the need for filing suit.
  • Won judgment against borrower on behalf of bank that purchased assets of failed financial institution, based on court ruling under D’Oench Duhme doctrine, barring defenses based on alleged unwritten promises by officers of failed bank. Successfully opposed borrower’s appeal to Virginia Supreme Court following the ruling.
  • Won judgment in federal jury trial against a distributer on behalf of a national flooring manufacturer for all amounts owed. Trial included the testimony of a handwriting analyst who contradicted the defendant president’s denials that he had executed the personal guaranty in question.
  • Obtained dismissal of malpractice lawsuit against business law firm relating to advise regarding tax issues.
  • Won judgment and resulting appeal to Virginia Supreme Court on behalf of attorney accused of malpractice and wrongdoing by former business associates in commercial real estate development venture.
  • Successfully defended and resolved disciplinary proceeding by the Certified Financial Planner Board of Review on behalf of an investment professional.
  • Successfully represented certain members of a law firm and avoided litigation in a business divorce among principals of the firm.
  • Filed suit and successfully resolved claim by owner of national medical device importer and distributor against business partner, on basis of usurpation of business opportunities, conversion and fraud.
  • Successfully resolved federal D&O lawsuit by Resolution Trust Corporation against officer of failed thrift, involving claims of negligence in failing to structure deposits with another failed financial institution so as to take full advantage of FDIC insurance.
  • Successfully defended and resolved more than a hundred claims against securities broker dealers and registered persons relating to sales practice issues such as churning, unsuitability, and unauthorized trading.

Presentations and Speaking Engagements

  • Lecturer at numerous state and local bar association and industry seminars on damages, financial services and litigation issues.

Professional and Community Involvement

  • Member, Board of Directors, Central Business District Association
  • Virginia Bar Association, Past Member, Board of Governors
  • Virginia Law Foundation, Past Member, Board of Directors
  • Virginia State Bar, Former Chair and Board Member, Litigation Section
  • Virginia Beach Bar Association, Past President and Executive Board Member; Past Presidents
    Council; Past Chair, Mentor Program
  • Virginia Supreme Court Jury Reform Task Force
  • Virginia Beach Bar Foundation, Past Board Member
  • American Inns of Court, I’Anson-Hoffman Chapter, Past Executive Committee Member
  • Boyd-Graves Conference, Past Member
  • National Association of Securities Dealers (now FINRA), Former Arbitrator
  • Hampton Roads Chamber of Commerce, Past Chair and Current Board Member, Virginia Beach Division and Past Member of Regional Board of Directors; Past Board Member, Chamber Political Action Committee.
  • Virginia Beach Vision: Past member of the Board of Directors.
  • Leadership Hampton Roads: Graduate and Past Alumni Board Member.
  • United Way Campaign: Former Chair, Virginia Beach Campaign and Regional Cabinet Member.
  • Neptune Festival: Friends Committee.
  • Brighton on the Bay Civic Association: Past President and Board Member.
  • Galilee Episcopal Church Montessori School: Founding Board Member.

Rankings and Recognition

  • Listed in The Best Lawyers in America for Litigation - Securities (2011-2019), Commercial Litigation (2006-2019) and Professional Malpractice Law - Defendants (2011-2019).
  • Selected as a Top Rated Lawyer in Securities Law by American Lawyer Media and Martindale-Hubbell (2014).
  • Selected for inclusion in Law & Politics’ Virginia Super Lawyer Business Litigation (2010-2018) and Hampton Roads Super Lawyers (2010-2016).
  • Recognized in Virginia Business Magazine’s “Legal Elite” for Civil Litigation.
  • Named AV Preeminent® - Judicial Edition, Martindale-Hubbell's highest rating for legal ability and ethical standards.
  • Selected one of Virginia's Top Rated Lawyers by ALM Legal Leaders.

Professional Experience

  • Troutman Sanders LLP, 2008-present
  • LeClairRyan LLP, 2005-2008
  • Willcox & Savage, PC, 1982-2005
  • Nexsen, Pruet, Jacobs & Pollard, 1981-1982



  • Washington and Lee University, J.D., 1981
    Executive Editor, Law Review
  • University of South Carolina, B.A., 1977
    Honors Program, Phi Beta Kappa

Bar Admissions

  • 1982 Virginia

Court Admissions

  • U.S. Court of Appeals for the Fourth Circuit
  • U.S. District Court for the Eastern District of Virginia
  • U.S. District Court for the Western District of Virginia
  • U.S. District Court for the District of South Carolina
  • U.S. Bankruptcy Court for the Eastern District of Virginia
  • Supreme Court of Virginia
  • Supreme Court of South Carolina