Securities Lawyers Blog
Corporations that once regularly hired large law firms for their litigation needs are now sending more work to smaller, less expensive firms for even the most complex legal work.
According to the Wall Street Journal, over the past three years, smaller law firms have nearly doubled their share of big-ticket litigation, to 41% from 22%, of the work that generates more than $1 million in legal bills, according to a new analysis released recently.
According to CounselLink, a division of LexisNexis, firms with over 750 attorneys have reduced their market ground in this area by approximately 6%.