Some legal industry observers believe law firms fall victim to complacency pretty easily. That belief only increased after many firms posted strong financial performances for 2018. But the early analysts’ reports for 2019 are a reminder that complacency is a dangerous condition.
Dan Packel’s story for the New York Law Journal showed that both Thomson Reuters’ Peer Monitor Index and Citi Private Bank’s law firm group showed decreased demand for law firms and increased expenses for the first quarter of 2019.
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