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A decade ago, $6 million was considered a breathtaking partner payday at a top US law firm. Today, that figure barely cracks the Am Law 100’s top ten. The 2026 Am Law 100 rankings, reflecting 2025 financial performance, tell the story of an industry that has fundamentally reset what “profitable” means: $178.95 billion in aggregate revenues, a $12.15 million average payout for equity partners at Wachtell Lipton, and Kirkland & Ellis becoming the first law firm in history to surpass $10 billion in annual revenue. The rich got richer, the gap widened, and almost nobody at the top is apologising for it. Read the LawFuel review of the AmLaw 100 – login - UK Law – Farrer & Co announces new partner and senior counsel promotions
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DLA Piper is scrapping its Swiss verein structure and pulling the operation under a single leadership umbrella after partners in both its US and International LLPs voted overwhelmingly in favour. The firm is betting that a more unified structure will make it easier to chase high-value, cross-border work and compete for top-tier talent without the usual internal friction that verein structures quietly encourage. Log in to read more . . - Sullivan & Cromwell Apologises to Judge After Fabricated Citations Exposed
In yet another high-profile reminder that AI “hallucinations” remain a clear and present danger to even the most sophisticated law firms, Sullivan & Cromwell (S&C) has formally apologised to New York federal bankruptcy judge Martin Glenn after a major court filing in the Prince Group restructuring contained fabricated citations and misquoted the U.S. Bankruptcy Code. - LawFuel’s Legal AI Power List 2026
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Latham & Watkins LLP (Latham) has reported record financial results for fiscal year 2025 (ended 31 December 2025), with global gross revenue reaching $8.3 billion, representing an 18.6% increase from approximately $7 billion in 2024. Profit per equity partner (PEP) rose 21.3% to approximately $8.7 million. The standout achievement is the firm’s London office, which crossed the $1 billion revenue threshold for the first time (up from approximately $850 million in 2024, equating to growth of more than 17%) Log in to read more . .
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