Big Law Financials Results Vindicate Client Relationships
This year, firms will be under pressure to keep the same profit margins, despite an expected rise in expenses.
February 18, 2021 at 06:22 PM
6 minute read
Each week, the Law.com Barometer newsletter, powered by the ALM Global Newsroom and Legalweek(year) 2021, brings you the trends, disruptions and shifts our reporters and editors are tracking through coverage spanning every beat and region across the ALM Global Newsroom. The micro-topic coverage will not only help you navigate the changing legal landscape, but also prepare you to discuss these shifts with thousands of legal leaders at the new year-long virtual series Legalweek(year). Click here to learn more and register for the most important virtual legal event of the year!
The Shift: Big Law Financials Results Vindicate Client Relationships
Law firm profits last year were eye-popping. The 14% average growth in net income and profits per equity partner in the legal industry, according to Citi Private Bank Law Firm Group, is borne out by several reports in the last few weeks of big and regional firms across the country enjoying stunning bottom-line results.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
The Right Amount?: Federal Judge Weighs $1.8M Attorney Fee Request with Strip Club's $15K Award
Kline & Specter and Bosworth Resolve Post-Settlement Fighting Ahead of Courtroom Showdown
6 minute read
12-Partner Team 'Surprises' Atlanta Firm’s Leaders With Exit to Launch New Reed Smith Office
4 minute read
Morgan Lewis Shutters Shenzhen Office Less Than Two Years After Launch
Law Firms Mentioned
Trending Stories
- 1Change Is Coming to the EEOC—But Not Overnight
- 2Med Mal Defense Win Stands as State Appeals Court Rejects Arguments Over Blocked Cross-Examination
- 3Rejecting 'Blind Adherence to Outdated Precedent,’ US Judge Goes His Own Way on Attorney Fees
- 4African Law Firm Under Investigation For AI-Generated Case References
- 5Indiana AG Accuses Big Pharma of Inflating EpiPens Price by 600%, Lawsuit Says
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
