Law Firms Gain, but With Big Caveat
Emma Schwartz, Legal Times, 04-22-2005
Citigroup study shows it may be tough to sustain growth
Law firm profits and revenues have increased according to a study by the Citigroup Private Bank. The study, obtained by the Legal Times, gave firms “high marks for improving overall profitability” as well as keeping expenses stable. However, growth was obtained by increasing rates and by requiring more billable hours from attorneys.
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