Only a few months into 2016, it looks to be a very profitable year for K&L Gates. In February, chairman Peter Kalis emailed the 1,852-lawyer firm’s partnership with news of a whopping $210 million contingency fee award, thanks to a $750 million patent infringement settlement involving client Carnegie Mellon University.
The windfall amounts to just $55 million less than K&L Gates’ entire net income in 2015, and it is bound to boost partner profits.
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