Legal Industry Survey Reports Firms Struggling with Expenses

Many law firms are struggling to control expenses in the face of stagnant revenue growth, AmLaw Daily reports. A survey of 115 firms by Wells Fargo’s Legal Specialty Group found that financial troubles are affecting firms across the board, the publication says. Legal Specialty Group national managing director Jeff Grossman was cautious in forecasting 2012 results. "Profit is a question mark," he said. "All indicators suggest it'll be down, but it depends on how firms manage expenses."