Am Law 100 firms saw record revenue growth in 2025, with Kirkland, Paul Weiss, and Wachtell dominating key metrics across revenue, profit, and compensation.
Trump’s executive order restricting law firms' federal access raises concerns over government retaliation, legal industry independence, and potential constitutional violations.
Perkins Coie sues the Trump administration over an executive order that it says unlawfully strips security clearances, cancels federal contracts, and threatens its business.
KPMG has received approval from the Arizona Supreme Court to establish KPMG Law US, marking the first instance of a Big Four accounting firm practicing law in the United States.
Non-equity partners are reshaping Big Law, with firms like Paul Weiss and Kirkland embracing this model. Bloomberg Law explores its growth, impact, and what it means for the industry.
A handful of Big Law firms known for partner retention are seeing unexpected departures in 2025, highlighting vulnerabilities in compensation structures and market shifts.
Multiple Am Law 100 firms, as well as midsize and regional law firms, have de-equitized partners in recent months in what is widely described as “sound financial management of the firm“.
Law firms are taking a variety of approaches to relieve the internal tension that comes from releasing partner pay data, including releasing numbers in bands or obscuring a partner's pay numbers for at least the first handful of years they're in the partnership.
New partner class sizes shrunk by an average of 4% among 22 Am Law 100 firms that made announcements by late November. The trend continues the decline that began in 2023 after firms promoted large class sizes in 2022.
Herbert Smith Freehills and Kramer Levin Naftalis & Franke plan to merge to create one of the largest law firms in the world with more than $2 billion in revenue, 2,700 lawyers and 640 partners across 25 offices.
Big Law firms will likely continue to increase billing rates at a significant clip in 2025, following a similar upward trend reported this year, when 60% of firms increased worked rates by 6% or more, according to the 2024 Strategic Pricing Survey from LawVision.
