Survey: Firm Leaders Admit Downturn's Permanent Impact

Most law firm leaders admit that recession-driven responses to their pricing practices and their clients' expectations that work be done efficiently are likely here to stay, according to a survey released Tuesday of 238 firms. At the same time, most respondents to the Altman Weil survey acknowledge that they have been slow to alter their long-term strategies to address those changes.

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Lawsuit Names Missing Fla. Attorney for Alleged Fraud

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A lawsuit for theft and fraud has been filed against a fugitive Florida real estate attorney whose license was suspended after he disappeared with about $4 million from his law firm's accounts. He left behind an apologetic email confession to his partner and staff, which said in part, "I have done things unknown to any of you that have been financially devastating."

Appeal Filed by Lawyers Sanctioned Over Porn Lawsuits

The National Law Journal

Lawyers under sanction for fraudulently filing dozens of copyright infringement suits against people accused of downloading pornographic films have filed an appeal, as the attorneys who represented them before the sanctioning judge have disappeared from the case. Prenda Law argues that the judge, who "dropped an anvil on Prenda Law's interests across the country," exceeded his authority and deprived the firm of its due process rights.

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Law.com Blog Network

Lateral Moves in The Am Law 200

The Am Law Daily (paid-access) | May 21, 2013

K&L Gates hires two renewable energy partners in Portland; King & Spalding poaches from Bird & Bird to establish a London trade practice; and a fourth Cadwalader, Wickersham & Taft partner leaves the firm for O'Melveny & Myers.

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• "Audio recordings of oral arguments before the U.S. Court of Appeals for the D.C. Circuit will become available online free of charge beginning September 9, 2013, the start of the Court's 2013-2014 Term."
  How Appealing

 

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All the key financial metrics for The Am Law 100 rose by single digits last year: gross revenue, revenue per lawyer and profits per partner. Eighty-three firms posted revenue gains, 25 more than in the prior year. Firms reversed course and added to their head count. Even equity partners grew their ranks on average after two years of flat or negative growth. But as a rule, income inequality continued to plague the rankings.

The Haves and the Haves Less

 

Gross Revenue: Vereins Top List

Am Law 100 Interactive Chart

25 Years of The Am Law 100

After three years of flat to negative growth, 2011 was when the nation's 250 largest law firms started getting bigger again. Headcount among NLJ 250 firms was up a collective 2,132 lawyers, for a growth rate of 1.7 percent -- in line with the average increase during the past 10 years, but well below the 4 to 5 percent growth of 2005-2008. Growth was far from universal in 2011; while 118 firms on the list added lawyers, 109 shrank and eight were flat.

A Time to Grow, Once Again

Full NLJ 250 Survey Results

Newcomers to the NLJ 250

NLJ 250 Regional Report

In a year when The Am Law 100 posted tepid year-over-year financial gains, Second Hundred firms bested their bigger rivals on most counts but still fell short on the bottom line. And while the two groups had comparable profit margins, the Second Hundred had less success turning top-line growth into profits. The culprits? Steep expenses and a sharp drop in leverage.

Overview: Expense Report

Striking the Right Balance (interactive chart)

Gross Revenue

Revenue per Lawyer

The Firms, A to Z

The economy began to rebound in 2011, but that wasn't enough to get firms to rev up associate hiring. We rank the top 50 law schools by percentage of 2011 J.D. grads who took jobs at NLJ 250 firms. We also identify the schools where NLJ 250 firms recruited the most graduates and the law schools that saw the most alumni promoted to partner in 2011.

It's Tough Out There

The Go-To Law Schools

Firm Favorites of 2011

Associates Promoted to Partner

Biggest Bang for the Buck?

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