Litigation Powerhouse Cutting Back On Contingency Work
This law firm is changing with the times.
I have 116 lawyers at this firm. They need to feed their families. We see the writing on the wall. If Hillary had won it would be different. You change with the times.
— Stephen Susman, the founding partner of litigation powerhouse firm Susman Godfrey, commenting on some of the reasons why his firm has decided to reduce the amount of contingency-fee work it does in favor of representing oil and gas industry clients on a fixed or hourly fee basis. Susman expects that with Trump in the White House, tort reform and other legislation affecting class-action litigation will negatively impact his firm’s revenues. Net income at Susman Godfrey decreased by 20 percent last year.
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Staci Zaretsky is an editor at Above the Law. She’d love to hear from you, so feel free to email her with any tips, questions, or comments. You can follow her on Twitter or connect with her on LinkedIn.
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