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February 02, 2024 | Texas Lawyer

Energy Sector Work Led to Higher-Than-Average Revenue Jump for Homegrown Texas Law Firms Last Year

A group of homegrown Texas firms did better than the industry average in a number of financial metrics in 2023, according to a Wells Fargo Legal Specialty Group year-end survey.
3 minute read
February 01, 2024 | Law.com

The Law Firm Disrupted: Gen AI Use in the Am Law 100 Earns Our Spotlight

We heard about generative AI approaches at Wall Street heavies, global firms, labor and employment giants, and outfits with roots in nearly every major legal market in the U.S.
5 minute read
February 01, 2024 | Daily Business Review

A Real Estate Slowdown Depressed the Growth of Florida Law Firm Revenue, But an M&A Pickup Might Push It Up

"It was a more average type performance for the Florida-based firms this past year. They came off a really strong 2022, where they outperformed quite dramatically," Owen Burman, a Wells Fargo senior consultant, said.
3 minute read
February 01, 2024 | National Law Journal

As Litigation Demand Soared, DC Boutiques Saw Strong Business Year

Several leaders of D.C.-based litigation boutiques said they had strong or solid 2023.
3 minute read
January 31, 2024 | The Legal Intelligencer

Aggressive Rate Hikes, Strong 4th Quarter Collections Drive 2023 Revenue Growth for Phila. Firms

The six Philadelphia-based firms surveyed by Wells Fargo together increased revenues by 4.7%, compared to a nationwide average of 6.0%.
4 minute read
Law Journal Press | Digital Book Wrongful Use of Civil Proceedings and Related Torts in Pennsylvania, Second Edition Authors: George Bochetto, David P. Heim, John A. O’Connell, Robert S. Tintner View this Book

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January 31, 2024 | The American Lawyer

Big Law Rates Continue Rising, But Trail 2023 Increases So Far

The average Am Law 50 firm upped its rates by 8% to 10% in 2024, according to bankruptcy records.
3 minute read
January 30, 2024 | The American Lawyer

After Moderate Revenue Gains, Law Firms Plan for Growth in Both Deals and Litigation

"The mindset is toward growth as opposed to cutting, and that's a change over the last 18 months," Wells Fargo's Owen Burman said.
4 minute read
January 24, 2024 | Texas Lawyer

Dallas, Houston See Notable, Above-Average Billing Rate Increases

The going rate for partners in Dallas increased from $674 per hour in 2022 to $770, a roughly 14% jump. In Houston, associates saw a roughly 10% increase, with mean going rates increasing from about $477 per hour to about $525.
4 minute read
January 24, 2024 | The American Lawyer

Where Are Big Law Billing Rates Growing the Fastest?

Some lawyers have seen a rate increase above 20%. Overall, lawyers in financial services and health care, and in markets such as Dallas and Houston, all saw notable rate hikes.
4 minute read
January 17, 2024 | New York Law Journal

Is RPAPL §1301 Really an Impediment to Pursuing a Guaranty Claim?

Scott Weinberg and Joel Haims discuss New York's "Election of Remedies" statute, examining whether it really has a material impact in practice.
6 minute read

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