(Photo: Adobe Stock) A Steady Litigation Year Helped Drive Big Law Revenue Gains
The latest annual numbers from Wells Fargo's Legal Specialty Group, a survey drawing on financial data from more than 130 law firms, found that revenues grew year-over-year by 6%, with some momentum coming into 2024 thanks to strength in countercycle practices and rate increases.
February 06, 2024 at 07:30 AM
4 minute read
The latest annual numbers from Wells Fargo's Legal Specialty Group, a survey drawing on financial data from more than 130 law firms, found that revenues grew year-over-year by 6%, with some momentum coming into 2024. That 6% revenue growth rate was an acceleration even from the 4.6% rate seen in the first nine months of the year and double the 3.0% growth rate of 2022. The Wells Fargo survey draws data from 70 Am Law 100 firms, 35 in the Am Law Second Hundred, and other regional firms. Here's how my colleague Andrew Maloney summed up the Wells Fargo findings released last week over at The American Lawyer:
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