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Law firms: what recession?



The National Law Journal reports (reg. required) that 98% of large law firms plan to add lateral partners, 41% plan to open new US offices, and the median billing-rate increase is four percent, faster than the rate of inflation. (And, of course, a 4% rate increase reflects a higher percentage increase in profits given the degree to which law firms face fixed costs.)

(The same column reports that Montgomery Blair Sibley's latest lawsuit against the federal judiciary for disbarring him has been dismissed. Given that his original suspension was in part for repeatedly initiating meritless litigation, one would expect a heavier exercise of discretion.)

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Rafael Mangual
Project Manager,
Legal Policy
rmangual@manhattan-institute.org

Katherine Lazarski
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.