The recession seems to have taken its toll on Foley & Lardner. The firm saw its gross revenue fall to $667 million last year, a decrease of 8.8 percent, and profits per partner fell to $586,000, a decrease of 7.9 percent.
Firm Chairman Ralf-Reinhard Boer told the AM Law Daily “we’re glad 2009 is behind us” and that business has increased across all practice areas since the start of the year.
“It was a tough year for the industry and a tough year for us,” Boer said. “Things are perking up pretty much.”
According to the report, the positive news for Foley & Lardner was limited to its bankruptcy and renewable energy practices. The biggest hits came in IP and IP litigation, securities and white-collar litigation.
Foley & Lardner LLP is an international general practice law firm started in 1842 in Milwaukee, Wisconsin. It employs 1,000 attorneys in 21 offices and 60 practice groups, and is the 24th largest firm in the United States.