Practice Finance

Ex-BigLaw partner gets suspension for $3.4M in ‘artificially inflated’ client bills

A former partner at two international law firms was suspended last month for inflating client bills by $3.4 million over the course of more than 20 years.

Oct 7, 2025 3:19 PM CDT

37 lawyers from this BigLaw firm are joining Orrick

Thirty-seven lawyers have jumped to Orrick, Herrington & Sutcliffe from Cadwalader, Wickersham & Taft.

Oct 7, 2025 9:49 AM CDT

Which law firms are most conservative and most liberal? See the ranking

BigLaw firms are moving further to the left, according to an analysis of campaign contributions by lawyers and staff members in BigLaw and larger plaintiffs-side law firms.

Sep 30, 2025 12:50 PM CDT

Husch Blackwell accused of using employee 401(k) contributions for months to cover operating expenses

A would-be class action lawsuit filed Tuesday alleges that Husch Blackwell engaged in “a deliberate scheme” to temporarily use its employees’ retirement plan contributions for its benefit in violation of the Employee Retirement Income Security Act.

Sep 17, 2025 9:19 AM CDT

Equity partner profits jump 13.7% in first half of 2025 amid rising law firm revenue

Law firms held the line on equity partner ranks in the first half of 2025 as revenue increased, helping profits per equity partner increase 13.7% from the same period last year, according to a six-month survey of mostly larger firms by Wells Fargo’s Legal Specialty Group.

Aug 27, 2025 8:58 AM CDT

Striking the Balance: How to make alternative fee arrangements work for everyone

Many corporate legal departments and law firms have gone “all in” on alternative fee arrangements, while others have chosen not to adopt them at all. After more than a decade in common use, only an average of 23% of legal work is performed under an AFA despite wide acknowledgement of their benefits. Why does this divide exist? It's not just about financial risk but also execution.

Aug 20, 2025 11:25 AM CDT

Taft will have more than 1,200 lawyers after merger with this law firm

Taft Stettinius & Hollister is adding more than 100 lawyers to the law firm as a result of a merger with Morris, Manning & Martin, the firms announced Monday.

Aug 12, 2025 10:52 AM CDT

Second quarter was ‘unnaturally calm’ for law firms amid ‘tumultuous’ backdrop, new report says

Client preferences may be shifting to more specialized or cost-effective legal solutions, according to Thomson Reuters' Law Firm Financial Index.

Aug 12, 2025 10:27 AM CDT

Merged law firm will be called McDermott Will & Schulte after partner vote

McDermott Will & Emery and Schulte Roth & Zabel will combine Aug. 1 as a result of a partner vote approving the merger last week.

Jul 1, 2025 12:35 PM CDT

Law firms consider increasing capital contributions by equity partners

Some law firms are considering increasing capital contribution levels, according to a report by Law.com.

Jun 26, 2025 9:30 AM CDT

More lawyers report billable-hour pressures affect their mental health, survey finds

Billable-hour pressures are negatively affecting mental well-being, according to 65.5% of lawyers and staff members surveyed by ALM and Law.com Compass.

May 15, 2025 9:16 AM CDT

Global trade war poses ‘rocky’ future for law firms, Thomson Reuters Institute report says

The global trade war boosted nearly every major practice area for law firms in the first quarter of 2025, but the months ahead “may be rocky indeed,” according to a summary by the Thomson Reuters Institute of its latest Law Firm Financial Index.

May 7, 2025 9:05 AM CDT

Billable hours at larger law firms ‘did not quite live up to expectations’ in first quarter

Revenue at larger law firms increased by 11.3% in the first quarter of 2025, compared to the same period last year, according to a survey by Wells Fargo’s Legal Specialty Group.

May 1, 2025 9:25 AM CDT

This law firm is ranked No. 1 after posting $8.8B in gross revenue; which other firms are ‘category leaders’?

Kirkland & Ellis is once again ranked No. 1 for gross revenue in 2024, according to the American Lawyer’s Am Law 100.

Apr 16, 2025 9:52 AM CDT

McElroy Deutsch settles suit claiming over $3M embezzlement by former executives

McElroy, Deutsch, Mulvaney & Carpenter has reached a settlement in a lawsuit accusing its former chief financial officer and his wife of stealing more than $3 million from the law firm.

Apr 15, 2025 9:32 AM CDT