Facts & Figures: Law firm managing partners predict revenue growth

From climbing settlement amounts to the risks of paper contracts, an inside look at the numbers that count

Paper Problems

The push toward digital is continuing throughout corporate America, but not all companies have made the switch from paper to a new medium, according to a new survey of U.S. managers conducted by Edelman Berland on behalf of Adobe Systems Inc. Survey participants pointed to various cons of using paper, reporting that it can complicate workflows, take up valuable office space and negatively impact the environment.

Climbing Confidence

Law firm managing partners are growing more confident in the economic climate, but worries still persist about rising expenses and continuing discount pressure, according to the Law Watch Managing Partner Confidence Index survey from Citi Private Bank.

Depressing Data

This week, the American Bar Association (ABA) released data on the employment status of 2012 law school graduates. This is the second year in which the ABA has required law schools to report more detailed employment numbers for inclusion in the survey.

Soaring Settlements

When it comes to securities class action settlements, 2012 was about quality—not quantity. The number of overall settlements decreased between 2011 and last year, but total settlement amounts increased by more than 100 percent over the same time period, owing largely to a rise in blockbuster settlements of more than $100 million.

Wage Woes

Companies dropped more cash on wage and hour settlements in 2012 than they did the previous year, according to a new report from National Economic Research Associates (NERA).  The total amount that companies paid out last year came in slightly higher than the five-year average of $455 million, which NERA primarily attributes to a wage and hour settlement between Novartis Pharmaceuticals and 7,000 of its employees.

Alanna Byrne

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