Recession Strikes Harder at N.J. Top 40 Second-Tier Firms
Just as New Jersey's Top 20 firms took it on the chin last year, their colleagues in the next tier felt the effects of the Great Recession -- and worse so. The second-tier firms showed a 9 percent drop in gross revenues and a 2.4 percent decline in net profits in 2009. They also went into retrenchment, dropping their attorney ranks by 3.8 percent. It marked the second straight year of decline in the lower half of the Top 40 firms. Revenue per lawyer dropped by 5.5 percent and profits per equity partner by 4.4 percent.
This content has been archived. It is available exclusively through our partner LexisNexis®.
To view this content, please continue to Lexis Advance®.
Not a Lexis Advance® Subscriber? Subscribe Now
LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.
ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.
For questions call 1-877-256-2472 or contact us at [email protected]