Millions of dollars in client business disappeared in 2009 and law firms want to recapture it. Firm leaders are saying they're more focused than ever on client contact. And on the whole, firms seem to be banking on the old work coming back, rather than looking to new practice areas.
March 11, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Editor’s Note from The Legal Intelligencer: This is the first of a two-part series reviewing 2009 financial performance and the prospects for 2010. The first part examines revenue trends and the second will look at partner profits.
Three of the four largest Pennsylvania-based firms — Dechert, Morgan Lewis & Bockius and Reed Smith — lost a combined $192 million in revenue in 2009 thanks to a drop-off in demand of some of their core practice areas.
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