US law firms face worst year for PEP since 1991
America's legal elite has emerged from its worst financial year since 1991 as partner profits and lawyer productivity at the US's top 100 law firms fell for the first time in 17 years.Eagerly-awaited 2008 results from Legal Week's sister title The American Lawyer confirms the dramatic impact of a fourth quarter dominated by financial turmoil, leading to an immediate global slump in demand for legal services.
Profits fall 4.3% at top US firms while revenue edges up to $67bn; Wall Street elite bears brunt as market stalls
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