Mid-Tier Law Firms Took a Hit in 2015

If 2015 was a slow year for top 100 U.S. law firms, it was an even worse year for the next level down.

On Monday, the American Lawyer issued its annual financial ranking of the largest 101-200 U.S. law firms by revenue and profits per partner, finding that revenue dropped by 3.2 percent on average and profits essentially stayed flat.

Kim Kleman, editor in chief of The American Lawyer, explained that the data brought some tough news for Big Law, in part because of a downturn in litigation — especially the sort of disputes handled by mid-tier law firms, as opposed ...