By Hugo Guzman | January 22, 2024
Since the financial crisis of 2007-2008, "market power shifted decisively from law firms to the clients, rapidly moving from a sellers' to a buyers' market for legal services," a new report from Thomson Reuters and Georgetown Law says.
By Thomas Spigolon | January 18, 2024
"If you don't have the talented people who are committed to the clients, then you can't grow revenue and profitability above the average like we've been able to do consistently for a decade," said chairman Robert Hays.
The American Lawyer | Analysis
By Andrew Maloney | January 17, 2024
The majority of law firms believe write-offs will increase over the next year, even after many firms made these billing adjustments in 2023, according to new results of a survey of firm leaders.
By Justin Henry | January 11, 2024
The adoption of a nontransparent pay system comes as firm leaders seek to reduce internal tensions as the spread of compensation expands.
The American Lawyer | Analysis
By Andrew Maloney | January 11, 2024
Am Law 100 firms increased their associate ranks by only 1.7% through November, even accounting for their fall classes, according to a report this week.
The American Lawyer | Analysis
By Dan Roe | January 10, 2024
Dechert has hiked its rates for a top partner by 20%, while McDermott is charging top partners out at $2,590 hourly, according to recent bankruptcy court filings.
By Andrew Maloney | January 9, 2024
"Many law firms have seen their ability to collect on those increasing rates falter, and clients have become more aggressive about trying to tier work to lower-cost firms," according to a new industry report.
The American Lawyer | Analysis
By Andrew Maloney | January 3, 2024
Law firms will need to make harder choices if they want to keep up, but many firms are too tepid about where to drill down, noted consultant Kristin Stark.
By Patrick Smith | January 2, 2024
Frank Aquila, partner in Sullivan & Cromwell's corporate group, said the tempering of inflation and the broader economic news that ushers in could be a boon for M&A in 2024.
By Jack Womack | December 29, 2023
The US arm of the firm has also made eight promotions across its American offices.
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