Latham & Watkins saw its profits drop 21 percent last year, one of the biggest falls so far reported by an Am Law 100 firm. Profits per equity partner fell from $2.27 million in 2007 to $1.8 million in 2008. The firm also saw a dip in revenues -- a 4 percent decrease to $1.9 billion has knocked the firm back below the $2 billion mark. Last year, Latham and Skadden, Arps, Slate, Meagher & Flom became the first two firms of The Am Law 100 to break past the $2 billion level in gross revenue.
February 09, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Latham & Watkins saw its profits drop 21 percent last year, one of the biggest falls so far reported by an Am Law 100 firm. Profits per equity partner fell from $2.27 million in 2007 to $1.8 million in 2008.
The firm also saw a dip in revenues — a 4 percent decrease to $1.9 billion has knocked the firm back below the $2 billion mark. Last year, Latham and Skadden, Arps, Slate, Meagher & Flom became the first two firms of The Am Law 100 to break past the $2 billion level in gross revenue.
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