The American Lawyer has revised the 2010 and 2011 financial results for Dewey & LeBoeuf in our annual Am Law 100 ranking. The revision is based on a review that was prompted by a Bloomberg story. In that article, Dewey’s management reported earnings of $250 million for 2011, less than the amount we had reported online three weeks earlier.
On March 7 Dewey’s management told The American Lawyer that the firm collected $935 million last year. According to the Bloomberg story, plus additional corroboration by a current and a former partner, however, the revenue figure for 2011 is $782 million, up 3 percent from the previous year. According to the new information, equity and nonequity partners shared a profit pool of $254 million. Equity partners, viewed apart from the nonequity tier, shared a net of $197.5 million, not the $340.5 million that we reported online.
