Debevoise Sees Big Decline in Profits, Revenue

March 1, 2010 Debevoise & Plimpton on Friday revealed that gross revenue dropped 12 percent and profits per equity partner suffered an even steeper fall last year as the recession caught up with the New York-based firm.

Revenue declined to $667.9 million in 2009, while profits per partner fell 16 percent to $1.87 million. The declines came amid a downturn in corporate work and the completion of some large matters in its litigation practices, namely the internal investigation of Siemens AG.

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