A traumatic departure of more than 20 partners and a $32 million contingent fee earned in 2015 conspired to send gross revenue plummeting to $222 million at Schiff Hardin last year.
The financial report by the Chicago-based firm is its first since the January 2016 walkout of a prominent group of lawyers led by former chairman Robert Riley, former managing partner Ronald Safer and partners Patricia Holmes and Joseph Cancila Jr., all of whom formed Riley Safer Holmes & Cancila, a new firm with offices in Chicago, New York and San Francisco.
