Reasonable people can disagree about whether alternative fee arrangements are good business, but one thing’s certain: They can play havoc with a firm’s Am Law 100 trend lines.
Just ask Howrey chairman Robert Ruyak. In 2008, contingency payouts added $35 million to the firm’s gross revenue, helping fuel a 20.3 percent increase over 2007. But in 2009, Howrey brought in just $2 million in contingencies—and the firm’s gross revenue fell 16.2 percent, to $480 million.
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