Please ensure Javascript is enabled for purposes of website accessibility
Recent News
James K. Langdon, Dorsey & Whitney LLP
James K. Langdon, Dorsey & Whitney LLP

The POWER 30: James K. Langdon

James Langdon started at Dorsey & Whitney LLP shortly before the 1987 stock market crash, and he still practices there, representing financial services and public company clients as well as others.

He practices in federal and state courts as well as before regulatory agencies, particularly the SEC.

As Langdon understated, “a lot of mortgage stuff” happened in the mid-2000s, including fraudulent lending and bankruptcies. He has also developed a practice in securities fraud class actions, where it is alleged that a public company had lied. He is the co-chair of the firm’s class-action practice group.

“The market is again volatile, which creates fallout and usually litigation,” Langdon said.

His recent successes include a two-week FINRA arbitration by Zoom where a $60 million case resulted in a zero award for his client. Zoom worked well for that case, before a panel of three arbitrators.

The attention-getting case coming up for Langdon and other lawyers is the sale of Bremer Bank by the Bremer Trust. The move to sell the bank resulted in an action by shareholders and the attorney general to remove the trustees, which was denied by Ramsey County District Court Judge Robert Awsumb. After a 20-day trial, Awsumb removed one trustee and said the sale could go through.

“The bank doesn’t want to be sold,” Langdon explained about the ongoing controversy. He is one of the attorneys representing the trustees who want the sale to go through.

He expects his SEC business to stay busy. “The SEC is going to get busier. Their focus has been on crypto currency, some Ponzi schemes, and usually broker dealer investigations.”

In addition, Langdon said, “the Biden administration is more aggressive in regulatory [activity], spending more money, staffing up. We’re beginning to see the impacts.”

And, he said, “class actions are as busy and creative as ever.”

There is a trend toward higher barriers in class certification, but it is moving slowly. The bar has become higher, primarily with respect to issues of commonality under FRCP Rule 23 (b) (3), he said.