K&L Gates releases financial results

February 25, 2013 US law firm K&L Gates has made the unusual move of disclosing its financial results, revealing profits per partner, debt load and other key metrics.

The firm’s chairman, Peter Kalis, said that the disclosure was a direct response to the collapse of Dewey & LeBoeuf last year: “The entire industry was tarred by Dewey, and the industry’s opacity and misleading statistics magnified the Dewey effect for all of us,” he said. “We wanted to head in a new direction and to promote change toward an informed transparency.”

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