In what appears to be a strengthening recovery, legal industry revenues and demand increased in the first nine months of the year over the same period last year, according to an analysis of law firm financial results by Wells Fargo Private Bank’s Legal Specialty Group.
Wells Fargo surveyed 135 law firms—including 60 in The Am Law 100 and at least 40 in the Am Law Second Hundred—and found that gross revenue rose 5 percent for the first nine months compared with the same period in 2013. Results for the full fiscal year 2014 are expected to be “very good,” according to the report.
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