The firm denies that it was motivated by a decline in its figures, reckoned to be a 20 per cent overall decline year on year, according to the American Lawyer which said it was the worst profits per partner showing in the AM Law 100. The firm’s global CEO Elliott Portnoy and global chair Joe Andrew told Legal Week magazine that clients view profitability as services that are ‘not invested into further support for them.’ Furthermore, they pointed out that a recent Citibank survey revealed that many firms exaggerate their profits data, making clients even more dissatisfied when they saw enhanced figures. Source: ABA Journal
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