In the year leading up to one of the largest lawyer departures in the history of the U.S. legal industry, partners in Lewis Brisbois Bisgaard & Smith’s employment department were growing frustrated with what they described in text messages as inadequate accounting practices.
Messages show equity partners bemoaning thousands of dollars in uncollected invoices and thousands more in funds owed back to clients. The firm was on track to miss its 2022 financial targets, the basis for equity partner income, due to salary inflation and “failures of our billing department.”
