Detroit’s largest law firms saw some gains in headcount and revenue during the past year — but most of the increase wasn’t in Michigan.
The state continues to suffer from the recession, with the unemployment rate still at 10.5% as of July, according to the U.S. Department of Labor’s Bureau of Labor Statistics. Law firms with roots in Detroit were able to grab some domestic work, mainly focused on regulatory changes, international investments and litigation. But an anticipated growth in bankruptcy work never materialized, and real estate activity is all but nonexistent. Most have looked outside Michigan to generate revenues.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
