Two global law firms post year-end financial results... Clifford Chance appoints new corporate leader... new partners join Chicago office of DLA Piper... and cyber bullying law is ruled unconstitutional in New York...
Allen & Overy end of year results
A&O has seen profits before tax and profits per equity partner rise by seven per cent in the year to 30th April. The firm released its results today which show a rise in revenue to US$2.08 billion. Managing partner Wim Dejonghe says that some markets have recovered from the downturn faster than others and that “what has really delivered in terms of performance this year is our focus on ensuring our business model is flexible enough to deliver legal services in the way our clients want". The stats also show the extent to which multi-jurisdictional work is growing, with almost 70 per cent of cases involving more than one office and a quarter of the firm’s work now across five or more countries.
Strong results for HSF
Herbert Smith Freehills has posted provisional end of year results showing a five per cent increase in revenue, with net income growing 11 per cent and an extra 12 per cent profit per equity partner. Joint CEO, Sonya Leydecker says the figures show how the business has built on positive momentum and increased brand recognition. HSF has expanded with new offices in New York, Germany and South Korea and has added 12 new partners including additions to the team in Brisbane, Sydney, Hong Kong and London.
Clifford Chance announces new corporate leader
Mark Poulson has been elected as area leader of Clifford Chance’s Corporate Practice in London. He’s been with the firm since 1988 and has been a partner since 1997 and has a wide range of experience across the business. He also leads the firm’s India-focused M&A practice.
DLA Piper add to Chicago practice
DLA Piper has announced that Kevin Finger and Jeffrey Torosian, the former co-chairs of Greenberg Traurig’s Chicago Litigation practice, will join the firm’s Litigation practice as partners in the Chicago office. The managing partner of the office said, “Kevin’s and Jeff’s experience and their superb track record of providing exceptional client service will complement the already strong team of lawyers they will be joining in our Chicago office".
US cyber-bullying case overruled
The top US court has ruled against a local county law that makes cyber-bullying a criminal offence. The case was taken to the Court of Appeals after a 15 year old was convicted in the Albany county court after posting sexual comments about fellow high school students on Facebook. The teenager cut a deal with the local court that he would plead guilty but only on the condition that he could challenge whether it would stand up against the constitutional right to freedom of expression. The Appeals court ruled that the law was in breach of this constitutional right and is likely to set a precedent in US law.