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1111 Pennsylvania Avenue, NW Washington, DC 20004 Phone: 202.739.3000 Fax: 202.739.3001 www.morganlewis.com
Morgan Lewis continued to lose ground to its peers in Washington in 2005. As measured by revenue generated in the D.C. area, the firm ranked as the region’s 16th largest, continuing a slide that has seen the firm drop nine places in the Legal Times‘ D.C. 20 survey since 2001. Despite its decline on the charts, the firm reversed a four-year trend of flat revenue growth by posting a nearly 7 percent gain in 2005. Among the reasons for the spike in revenue is an uptick in securities enforcement and litigation work. “There’s a tremendous explosion of work that we and our peers are seeing,” says Steven Stone, the firm’s D.C. managing partner. Helping drive the increase is its work on behalf of clients embroiled in financial scandals. It has defended Lehman Brothers in a $130 million class action alleging the company aided and abetted a ponzi scheme shut down by the Securities and Exchange Commission. It has repped Deutsche Bank in SEC and state investigations into mutual-fund market timing. And it represented Knight Equity Markets in an SEC settlement concerning institutional trading. The firm’s energy and white-collar lawyers also represented FirstEnergy Corp. in grand jury and U.S. Nuclear Regulatory Commission investigations into the company’s troubled Davis-Besse nuclear plant. In recent years, Morgan Lewis has built one of the larger intellectual property practices of any general-practice firm by poaching top partners from rivals. But in 2005 the firm was hit by defections in its IP group. In November the co-chairs of its life sciences IP group, Michael Tuscan and Erich Veitenheimer III, left for Cooley Godward. That same month, McDermott, Will & Emery nabbed 15 patent litigators from Morgan Lewis’ New York office. And as is the case with a number of other large firms, Morgan Lewis continues to expand the ranks of its nonequity partners in an effort to shrink its equity partnership. In 2005 the firm added a dozen nonequity partners to its ranks, while the number of equity partners in the District declined to 53. That reflects the firm’s strategy of promoting associates to nonequity partner for several years before considering them for further promotion. “More and more for rising partners they become [nonequity] partners before being elevated to equity partners,” Stone says.
D.C. 20 (2006)Rank by D.C. revenue: 16D.C. Revenue (2005): 180,000,000D.C. Revenue (2004): 169,200,000Revenue per lawyer: 725,000Profits per partner: 915,000Average Compensation All Partners: 690,000Lawyers/Equity All Partners: 284/53Firmwide Revenue (2005): 804,500,000 D.C. 20 (2005)D.C. Revenue 2004: 169,200,000D.C. Revenue 2003: 169,300,000Revenue Per Lawyer: 685,000Profits Per Partner: 855,000Average Compensation All Partners: 685,000Lawyers/Equity Partners: 247/55Firmwide Revenue 2004: 723,600,000

LT150 (2006)Rank by size of D.C. office: 9Lawyers in Office (2006): 250Partners in Office (2006): 90Lawyers in office (2005): 260Partners in office: (2005) 100Percent Change in Number of Lawyers: -3.8Associate Hires Expected 2006: 34 LT150 (2005)Rank: 9Lawyers 2005: 260Partners 2005: 100Lawyers 2004: 267Partners 2004: 97Percent Change: -2.60Associate Hires: 30

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