While other firms faced systemic changes to their business models in 2009, Duane Morris avoided mass layoffs, kept starting salaries at $145,000 and didn't defer associates. The firm saw a 5.4 percent increase in gross revenue in 2009 thanks to some timely contingency fee payouts and an overall increase in billable hours for the year, the firm said. One of the biggest impacts on Duane Morris' financials and headcount in 2009 was the acquisition of 53 lawyers in April from dissolved Wolf Block.
March 26, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Duane Morris saw a 5.4 percent increase in gross revenue in 2009 thanks to some timely contingency fee payouts and an overall increase in billable hours for the year, the firm said.
Gross revenue grew from $368 million in 2008 to $387.7 million in 2009, putting the firm back ahead of its 2007 revenue performance of $375 million.
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