While Shumaker, Loop & Kendrick might have seemed to have had a difficult year in 2014, with its gross revenue dropping 13.5 percent and profits per partner falling 30 percent, it’s just the result of a contingency payout in 2013, according to managing partner Thomas Dillon.
The firm had received a $10 million arbitration award in 2013, which skewed its results for that year. “Now we’re back to our normal numbers,” managing partner Thomas Dillon says. “We basically didn’t repeat an extraordinary recovery.” The award resulted from Shumaker Loop’s representation of two former brokers from Merrill Lynch & Co. Inc. who were seeking to enforce their deferred compensation contracts.
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