Is this the end of an era? Having dominated our gross revenue rankings since The Am Law 100 was first published in 1987, Skadden, Arps, Slate, Meagher & Flom has this year been overtaken by both DLA Piper and Baker & McKenzie to finish in third place for the first time ever.
Skadden had previously failed to top the pile only four times, and even then it took severe recessions to knock the New York firm from its perch: It placed second to Baker in our rankings for 1992, 1993, 2009, and 2010, neatly coinciding with the two most recent downturns.
