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Dickstein Shapiro Morin & Oshinsky reported a boom year, topping $1 million in profits per partner for the first time—up from $559,000 last year. The firm’s D.C. revenue jumped an astonishing $61 million, to $198 million from $137 million the previous year. That represents a leap from No. 13 to No. 2 for profits per partner and from No. 13 to No. 6 for gross revenue on the list of top grossing law offices in the D.C. area. Firm chairman Angelo Arcadipane concedes that the jump in profitability is related in part to large contingent fees from a 1999 antitrust suit against two vitamin makers. Work on the matter was generated largely out of the firm’s D.C. office, and Dickstein’s D.C. revenue reflects that, says Arcadipane. The firm represented on a contingent basis more than 30 buyers of bulk vitamins in the suit filed in Arkansas against international vitamin manufacturers and wholesalers on behalf of U.S. companies. The suit followed a record $725 million criminal fine levied by the Justice Department against Swiss pharmaceutical giant Hoffman-La Roche and Germany’s BASF AG. Arcadipane declined to say how much of the firm’s revenue jump was derived from this settlement. He says that the amount of time Dickstein lawyers spent on contingent fee work in 2002 was higher than the firm’s average and rose between 6 percent to 10 percent in 2001 and to 12 percent in 2002. But Arcadipane notes that the firm’s investment in contingent work will continue to pay off in 2003, which he predicts will surpass 2002 in revenue. Arcadipane, who is stepping down at the end of 2003 and will be replaced by Michael Nannes, notes that Dickstein’s success last year was also the result of strong growth in several practice areas, including intellectual property, energy, and litigation. Within litigation, antitrust, bankruptcy, and insurance coverage—one of the firm’s mainstay practices—were strong. The longtime firm head also says that “disciplined spending” helped Dickstein to achieve record profitability in 2002. “It’s been a hallmark of our firm for a while,” says Arcadipane. “It doesn’t mean just saving pennies, but doing it in a way that produces top-quality legal services as well.”

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