The Am Law 100, the Early Numbers: Irell's Finances Slip in 2013
Los Angeles–based Irell & Manella suffered declines across all the key financial metrics in 2013, with the sharpest drop coming in the revenue per lawyer category, according to The American Lawyer's reporting.
A year after jumping 9.1 percent, Irell's RPL fell 8.4 percent last year, to $1.43 million. The firm's gross revenue slid 7.1 percent, to $237 million, after increasing 4.5 percent in 2012. Profits per equity partner were down a more modest 1.9 percent, to $3.36 million, following a 19 percent surge in 2012. While it is too early to tell how the declines will affect Irell's place in this year's Am Law 200 rankings, it has placed among the top 10 firms in both revenue per lawyer and profits per partner in recent years.
Irell's attorney ranks, meanwhile, remained relatively steady in 2013. The firm added two lawyers to increase its overall head count 1.2 percent , to 166, while seeing its single-tier, equity partnership shrink by one, or 2.1 percent, to 47.
Among last year's prominent litigation matters, Irell represented businessman William Koch in a fraud and deceptive business practices trial targeting one of the country's largest wine sellers in federal court in New York, and molecular diagnostics company Ariosa Diagnostics Inc. in a patent infringement case involving a prenatal test against Sequenom Inc. The firm also won the dismissal of a 306-count indictment against Lender Processing Services Inc. employee Gary Trafford by Nevada's attorney general, who had accused Trafford of, among other things, telling others at the company to sign his name to foreclosure-related documents.
Irell declined to make anyone available to comment for this article.
This report is part of The Am Law Daily's early coverage of 2013 financial results of The Am Law 100/200. Final rankings and full results for The Am Law 100 will be published in The American Lawyer's May 2014 issue and on AmericanLawyer.com. The Am Law Second Hundred will be published in the June issue.