0 results for ''Porzio Bromberg Newman''
Mass Law Firm Layoffs Follow Fen-Phen Finale
With an abrupt end to mass tort litigation over the fen-phen diet drug, New Jersey's Porzio, Bromberg & Newman has laid off 53 people, including 16 lawyers and 21 paralegals. Porzio had been defending pharmaceutical giant Wyeth, but the work dried up when the firm representing most of the remaining 943 cases administratively withdrew the complaints. One associate called the dismissal process "heinous," while others questioned the recruitment of laterals, instead of more contract lawyers, for the Wyeth work.Revenues and Profits Up at Top 20, As Out-of-State Firms Make Inroads
New Jersey's large firms obviously went to school during the last recession, which produced lower or flat profitability throughout the first half of the 1990s. The lessons learned -- work smarter for bigger clients and restructure the firm to keep the focus on the bottom line -- continue to pull the top firms through this latest slowdown with flying colors. In 2002, the state's 20 top-grossing firms collectively increased revenues by a record 10.2 percent, a jump in profits per partner of 8.8 percent.Silence Deafening at Law Firms as Fen-Phen Litigation Winds Down
The nationwide fen-phen settlement has led to a shriveling of local litigation over the diet drugs, and plaintiff and defense lawyers feverishly busy until a month ago are suddenly in a state of torpor.Trending Stories
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
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