By Justin Henry | November 29, 2023
Other Am Law 50 firms with roots in Pennsylvania did not respond to inquiries about whether they'd also be raising associate salaries.
4 minute read
By Thomas Spigolon | November 28, 2023
Atlanta law firms grew billing rates by an average of 9.5% in the first nine months of the year, compared with the industry's 7.9% growth, according to a Wells Fargo survey.
5 minute read
By Paul Haskel | November 28, 2023
In recent years, law firms have taken on an increasing number of contingency cases—but doing so can be a gamble. Fee delays, risk of loss, soaring out-of-pocket costs and potentially going years without revenue are just a few of the risks. It can also lead to unusual volatility in firm revenue. So why are so many firms turning to litigation funding to mitigate these risks? This article examines the benefits and risks of litigation funding and addresses successful models in cost and risk sharing. It also compares how funding can be used successfully as a tool at different types of law firms.
8 minute read
By Alexander Lugo | November 22, 2023
"They've done the work creating the value. Now they have to collect it, and that's what's going to drive that revenue figure up," said Owen Burman, a senior consultant at Wells Fargo.
3 minute read
By Brenda Sapino Jeffreys | November 22, 2023
"This revenue outcome represents not only favorable client demand [and] the right decisions around billing rates, but also the right discipline around the collection cycle."
3 minute read
By Patrick Smith | November 21, 2023
"We've been incredibly fortunate to have had a lot more stability and excitement in our own work during 2023," Wachtell's Adam Emmerich said.
7 minute read
By Abigail Adcox | November 21, 2023
Citi attributed D.C. firms' demand growth to client demand for partner-level talent, in areas including regulatory, litigation and restructuring.
4 minute read
By Brenda Sapino Jeffreys | November 21, 2023
While demand through the first nine months of 2023 was flat for the legal industry when compared to the same period last year, homegrown Texas firms posted a 1.1% increase in demand, according to a Wells Fargo Legal Specialty Group survey.
3 minute read
By Andrew Maloney | November 21, 2023
Law firms will try everything in their control, such as setting up so-called milestone payments on next year's work or using discounts to incentivize payment of outstanding bills.
6 minute read
By Amanda O'Brien | November 20, 2023
"Gross revenue was up 4.5%—even though rates did contribute to that, overall demand was worse," Wells Fargo's Owen Burman said of the Q3 results of six Philadelphia-based firms surveyed by the bank. "In order to have revenue be around the same point, they've basically collected better at this point in the year than other firms have."
5 minute read
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Professional Announcement
Frederick D. Miceli has joined the firm as Of Counsel
Professional Announcement
