Reef sharks play a major role in shaping Caribbean reef communities.  As the top predators of the reef and indicator species for marine ecosystems, they help maintain the delicate balance of marine life in reef environments.  Reef sharks are highly valued for their meat, leather, liver oil, and fishmeal, which make them prone to overfishing and targeting. Yet, their importance for the tourism industry makes them more valuable alive than dead. In 2011, Honduras declared its waters to be a permanent sanctuary for sharks, making fishing for these species completely forbidden.
The "hunch" threat display of the grey reef shark is the most pronounced and well-known agonistic display (a display directed towards competitors or threats) of any shark. Investigations of this behavior have been focused on the reaction of sharks to approaching divers, some of which have culminated in attacks. The display consists of the shark raising its snout, dropping its pectoral fins, arching its back, and curving its body laterally. While holding this posture, the shark swims with a stiff, exaggerated side-to-side motion, sometimes combined with rolls or figure-8 loops. The intensity of the display increases if the shark is more closely approached or if obstacles are blocking its escape routes, such as landmarks or other sharks. If the diver persists, the shark will either retreat or launch a rapid open-mouthed attack, slashing with its upper teeth.[3]

The snout is rather short, broad, and rounded, without prominent flaps of skin beside the nostrils. The eyes are large and circular, with nictitating membranes (protective third eyelids). There are 11–13 tooth rows in either half of both jaws. The teeth have broad bases, serrated edges, and narrow cusps; the front 2–4 teeth on each side are erect and the others increasingly oblique. The five pairs of gill slits are moderately long, with the third gill slit over the origin of the pectoral fins.[4] The first dorsal fin is high and falcate (sickle-shaped). There is a low interdorsal ridge running behind it to the second dorsal fin, which is relatively large with a short free rear tip. The origin of the first dorsal fin lies over or slightly forward of the free rear tips of the pectoral fins, and that of the second dorsal fin lies over or slightly forward of the anal fin. The pectoral fins are long and narrow, tapering to a point.[2] The dermal denticles are closely spaced and overlapping, each with five (sometimes seven in large individuals) horizontal low ridges leading to marginal teeth.[4]

Grey reef sharks were the first shark species known to perform a threat display, a stereotypical behavior warning that it is prepared to attack.[3] The display involves a "hunched" posture with characteristically dropped pectoral fins, and an exaggerated, side-to-side swimming motion. Grey reef sharks often do so if they are followed or cornered by divers to indicate they perceive a threat. This species has been responsible for a number of attacks on humans, so should be treated with caution, especially if they begin to display. They are caught in many fisheries and are susceptible to local population depletion due to their low reproduction rate and limited dispersal. As a result, the International Union for Conservation of Nature has assessed this species as Near Threatened.

Generally a coastal, shallow-water species, grey reef sharks are mostly found in depths of less than 60 m (200 ft).[11] However, they have been known to dive to 1,000 m (3,300 ft).[2] They are found over continental and insular shelves, preferring the leeward (away from the direction of the current) sides of coral reefs with clear water and rugged topography. They are frequently found near the drop-offs at the outer edges of the reef, particularly near reef channels with strong currents,[12] and less commonly within lagoons. On occasion, this shark may venture several kilometers out into the open ocean.[4][11]
The Caribbean reef shark was originally described from off the coast of Cuba as Platypodon perezi by Poey in 1876. Bigelow and Schroeder later described the same species as Carcharhinus springeri in 1944 and the reef shark appears in much literature under this scientific name. The genus name Carcharhinus is derived from the Greek “karcharos” = sharpen and “rhinos” = nose. The currently accepted valid name is C. perezi (Poey 1876).
Ancient reefs buried within stratigraphic sections are of considerable interest to geologists because they provide paleo-environmental information about the location in Earth's history. In addition, reef structures within a sequence of sedimentary rocks provide a discontinuity which may serve as a trap or conduit for fossil fuels or mineralizing fluids to form petroleum or ore deposits.