Photo of Raymond W. HenneyPhoto of Raymond W. Henney

Raymond W. Henney

Partner
Leader, Securities and Corporate Governance Litigation Practice Group

Education

Wayne State University Law School, J.D.
  • magna cum laude
  • Wayne Law Review, Senior Editor, 1982-1983
Michigan State University, B.A.
  • with honors; Phi Kappa Phi

Prior Employment

  • Ropes & Gray, Boston, MA, Associate, 1985-1989

Bar Admissions

Court Admissions

Clerkships

  • Judge Philip Pratt, U.S. District Court for the Eastern District of Michigan, Law Clerk, 1983-1985

Professional Affiliations

Financial Industry Regulatory Authority (FINRA)

  • Arbitrator

Securities Industry and Financial Market Association (SIFMA)

State Bar of Michigan

  • Business Law Section

American Bar Association

  • Litigation Section
    • Securities Litigation Committee
      • Securities Arbitration Subcommittee

Oakland County Bar Association

  • Circuit Court Committee, 1997

Oakland County Bar Association American Inn of Court

  • Member, 1996

Midwest Securities Law Institute

  • Co-chair, 2014-present
Overview
Experience
News & Resources
Honors

Overview

Mr. Henney is a litigation attorney with extensive experience in litigating a wide variety of securities cases in various state and federal courts, and arbitration tribunals in numerous states.  He possesses substantial experience representing corporations, individuals and brokerage and investment advisor firms in SEC, federal and state investigations, and enforcement actions.

  • Numerous successful representations of major corporations and directors in shareholder class actions and derivative cases
  • Advises brokerage and investment advisor firms in bet-the-company litigation
  • Counsels brokerage, clearing and transfer firms in actions concerning sophisticated products and market transactions
  • Represents public companies and brokerage firms in leading cases under the securities laws
  • Serves as leader of the firm’s Broker-Dealer and Investment Advisor Industry Group

Experience

  • Represented a major university endowment and endowment managers in congressional hearings and before the SEC
  • Obtained dismissal of claims against a national law firm in an opinion of first impression under Michigan law concerning the liability of underwriter’s counsel, who drafted the alleged misleading offering materials for a bond issuance; Wells Fargo Advantage National Tax Free Fund v. Helicon Associates, Inc. (E.D. Mich.)
  • Obtained a favorable result representing a clearing firm against claims brought by Receiver that arose from an SEC enforcement action alleging fraud against a former customer of the clearing firm client; Phillip L. Stern v. Legent Clearing LLC (N.D. Ill.)
  • Obtained summary judgment on behalf of an investment bank accused of misrepresenting financial statements in the sale of a business, including allegedly manipulating revenue recognition and EBITDA (Florida State Court)
  • Obtained the dismissal of various claims and opposed certification of a class of investors who allegedly purchased securities through an unregistered broker; Cannon v. GunnAllen Financial Inc. (M.D. Tenn.)
  • Advised Taubman Centers, Inc. and its directors in numerous lawsuits arising from Simon Property Group, Inc.’s hostile tender offer for Taubman Centers and proxy contest
  • Successfully represented a bank holding company in an SEC investigation arising from a referral from the FDIC
  • Successfully represented a public company with respect to an SEC enforcement action seeking the imposition of a receivership; SEC v. Wilson (E.D. Mich.)
  • Represented parties to a merger transaction challenged in state court by public shareholders as a self-dealing, interested person transaction, which was dismissed in an opinion of first impression interpreting Michigan Corporation Act; Camden v. Kaufman (Mich. Ct. App.)
  • Counseled outside directors of troubled financial institution, resulting in derivative claims being dismissed
  • Represented high-tech company in shareholder class action establishing leading precedent for interpretation of the Private Securities Litigation Reform Act of 1995; Havenick v. Network Express, Inc. (E.D. Mich.)
  • Advised high-tech firm in shareholder class action establishing leading precedent on corporation’s liability for prospective statements and for analysts’ estimates; Greenberg v. Compuware, Inc. (E.D. Mich.)
  • Represented issuer of limited partnership interests in securities class action case establishing leading precedent for the “bespeaks caution” doctrine; Harner v. Prudential Securities Inc. (E.D. Mich.), aff’d (6th Cir.)
  • Obtained dismissal on behalf of broker-dealer of investor claims concerning the sale of sophisticated treasury swaps, other derivative products, and commodities and obtained an award for broker-dealer on a significant margin balance; Naimi v. Morgan Stanley (FINRA arbitration)
  • Represented brokerage firm in case establishing the requirement that courts must apply the six-year eligibility rule of the arbitration codes of self-regulating organizations; Roney & Co. v. Kassab(6th Cir.)
  • Counseled brokerage firm in a leading case establishing elements for churning and misrepresentation; Brunetti v. Roney & Co. (E.D. Mich.)
  • Advised broker-dealer in NASD proceeding before the National Adjudicating Council that resulted in overturning Member Regulation’s determination of disqualification; In the Matter of Magellan Securities
  • Represented a brokerage firm in complex state and federal court class actions concerning claims of misrepresentation, lack of due diligence and breach of fiduciary duty arising from the demise of three limited partnerships, which resulted in the dismissal of class and individual claims
  • Counseled leading NYSE advertising firm in securities class action resulting in plaintiff’s dismissing claims; In re Valassis Litigation (E.D. Mich.)

News & Resources

News

Press Releases

Publications

Seminars & Events

Honors

  • Chambers USA: America's Leading Lawyers for Business, 2004-2016
    • Recognized as one of America's leading lawyers in the Litigation/General Commercial field in Michigan; Chambers adds:
      • 2016 – "is an experienced litigator and arbitrator who has appeared before courts and tribunals across the US. He is particularly known for his expertise in securities law, product liability claims and shareholder disagreements."
      • 2015 – “specializes in securities litigation, with experience in both trials and arbitrations. His clients include investment and brokerage advisories."
      • 2014 – “comes highly recommended by clients. He focuses his practice on securities and corporate governance, and has experience in both state and federal courts.”
      • 2013 – "Raymond Henney is co-chair of the firm's securities and corporate litigation group. He is an experienced and well-respected practitioner."
      • 2012 – "Securities and corporate governance litigation group co-chair Raymond Henney is well respected for his class action and securities expertise."
  • The Best Lawyers in America, 2007-2017
    • 2017 Detroit Litigation - Securities Lawyer of the Year
    • 2016 Detroit Litigation - Regulatory Enforcement (SEC, Telecom, & Energy) Lawyer of the Year
    • 2015 Detroit Litigation - Mergers and Acquisitions Lawyer of the Year
  • DBusiness, Top Lawyers, 2010-2016
  • Martindale-Hubbell AV® Preeminent™ Peer Review Rated 
  • Michigan Super Lawyers, 2007-2016
  • Benchmark Litigation, Litigation Star, 2016
  • Who's Who in American Law
  • Who's Who in International Law
  • Life Member of National Registry of Who's Who
  • Lawdragon 500 New Stars, New Worlds, 2006