Practice Finance

Associate pay raises push law firm expenses higher; demand softens while rates rise

Law firms are facing rising expenses that are partly fueled by associate pay raises, according to two reports on the economic outlook for law firms in the first quarter of 2019. Expenses are rising amid a period of stalling demand and productivity, the American Lawyer reports. On the bright side,…

May 16, 2019 3:28 PM CDT

BigLaw firm settles suit accusing it of ‘billing feeding frenzy’

Morrison & Foerster has reached a confidential settlement in a lawsuit accusing the law firm of “egregious overbilling” and a “billing feeding frenzy” after it was hired to help wind down several companies. The deal was reached in mediation, the Texas Lawyer reports. One of the plaintiffs in the case…

May 14, 2019 10:44 AM CDT

Percentage of equity partners continues to shrink while BigLaw profits increase

The percentage of equity partners in the nation’s top 100 law firms continued to decline last year, even as average revenue per lawyer increased. The percentage of equity partners was 56% of total partners in 2018, down from 78% in 2000, Law.com reports. The percentage “has been steadily contracting for…

May 7, 2019 6:30 AM CDT

Associate pay raises push law firm expenses higher; demand softens while rates rise

BigLaw firm settles suit accusing it of ‘billing feeding frenzy’

Percentage of equity partners continues to shrink while BigLaw profits increase

Topics: Career & Practice

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