Shearman & Sterling reports a 4.9 percent dip in revenues to $876 million for 2008, along with a 9.6 percent fall in profits per equity partner, to $1.665 million. Revenue per lawyer remained above the million-dollar mark.
The percentage declines posted by Shearman were similar to those reported by Skadden, Arps, Slate, Meagher & Flom, and in the middle of the pack for major New York firms that have posted their results.
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