American Lawyer Lowers Dewey Financial Numbers by More than $150M
The American Lawyer has lowered its reported gross revenues for Dewey & LeBeouf by more than $150 million for both 2011 and 2010.
The publication is now reporting that Dewey had gross revenues of $782 million in 2011, instead of $935 million, and $759.5 million in 2010, instead of $910 million, the Am Law Daily reports.
The American Lawyer revised the figure after it learned of a Bloomberg story reporting lower numbers. The Wall Street Journal also reported a mismatch.
The law firm says the numbers differed because of differing methodology. The Wall Street Journal Law Blog published Dewey’s statement to the American Lawyer. “We shared our methodology for arriving at the numbers we gave to American Lawyer prior to your publication of that data. Using that methodology, the numbers we gave you were accurate at that time and they remain accurate now,” the statement said in part. Dewey says it assumes other law firms use the same methodology.
