Litigation Funding Shift Led to Legal Industry Growth During Pandemic
The financial outlook for the legal sector has been seriously challenged by the pandemic and several years ago did not look positive. However, despite the shadows of downsizing and insolvency, 2021 saw the legal sector completely turn things around. In the first nine months of the year revenues were up 14% on average, compared to 6.3% in 2019. Plus, a number of AM 100 firms experienced a spike in profits per partner that equated to an all-time high.
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