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Firm Management

Lawbook 50 — Texas Firms Reap Financial Benefits of a ‘Perfect Storm’

Corporate law firms in Texas had another blockbuster year in 2024. Record revenues. Record profits. The top business law firms operating in Texas in 2024 worked more hours for more corporate clients and charged those clients record-high rates — some now topping $2,600 an hour for premium services. The demand for high-dollar elite legal expertise and services in Texas came from companies and private equity firms involved in dealmaking for infrastructure and energy transition projects and businesses engaged in bet-the-company disputes, often battling other businesses or government agencies in court. The Texas Lawbook 50, which tracks the revenue generated by lawyers and law firms operating in Texas, found that 34 of the 50 largest corporate firms achieved record-high revenues in 2024, and an even higher percentage achieved record profits. Eight law firms grew revenue by 25 percent or more.

Mark Curriden

Lawbook 50 — The Texas Magnificent Seven

Seven corporate law firms operating in Texas witnessed extraordinary growth in 2024. The Texas version of the Magnificent Seven far outpaced their competitors by increasing Texas headcount by 24 percent in 2024 and Texas revenue by an astonishing 42 percent, according to The Texas Lawbook 50, which documents the annual Texas headcount and revenues of business law firms. Three of the Tex Mag Seven were founded in California, three in New York and one in Chicago. All seven firms achieved record-high revenues in 2024.

Mark Curriden

Defying Political Backlash, Susman Godfrey Expands Diversity Scholarship Amid Legal Battle with Trump Administration

Amid growing political pressure and legal threats from the Trump administration, Houston-based law firm Susman Godfrey is expanding its diversity scholarship program for law students of color. The firm announced it will increase both the number of recipients and the award amount for its annual Susman Godfrey Prize, despite accusations from federal officials that its diversity efforts violate discrimination laws.

Krista Torralva & Mark Curriden

Kirkland is Texas’ First Billion-Dollar Law Firm

Kirkland & Ellis has become the baseball Hall of Famer Bob Gibson of corporate law firms — fiercely competitive and dominant, despised and envied by opponents and outrageously successful. Entering its second decade with offices in Texas, Kirkland achieved a new high in 2024 that even its Texas leader, Andy Calder, never conceived they could accomplish.

Mark Curriden

Lawbook 50: Eight Firms — All Texas, All the Time, All Profitable

Kelly Hart, Porter Hedges, Jackson Walker and five other law firms tracked by the Texas Lawbook 50 are 98 percent Texas operations with only a handful of lawyers outside the state. All eight law firms hit record highs last year in revenues and profits, and they are growing revenue and headcount at the same pace as the mega corporate firms that surround them. This gang of eight generated $1.046 billion in revenue in 2024 — up nine percent from the prior year, according to Lawbook 50 research. “We had another record-breaking year in 2024 — beyond what we reasonably expected,” Porter Hedges co-managing partner Joyce Soliman told The Lawbook.

Mark Curriden

Condon Tobin Hires Team from Libby Sparks

Condon Tobin Sladek Sparks Nerenberg has hired three new attorneys, the firm announced Wednesday in a news release. The additions — members Dustin Sparks and Jeff Libby, plus associate Rebecca Donachie — will strengthen the Dallas firm’s capabilities in corporate transactional work, M&A and commercial real estate.

Jeff Schnick

Susman Godfrey: President Trump Executive Order is ‘Unconstitutional — Full Stop’

A lawyer for the U.S. Justice Department told a federal judge Thursday that President Donald Trump was legally exercising his executive authority by prohibiting lawyers with the Houston-based law firm Susman Godfrey from entering federal buildings or representing clients who had contracts with the federal government and suspending their security clearances. U.S. District Judge Loren AliKhan of Washington, D.C., repeatedly asked U.S. Deputy Associate Attorney General Richard Lawson to provide evidence supporting the president’s April 9 executive order condemning Susman Godfrey for racial discrimination in their hiring practices and for “spearheading efforts to weaponize the American legal system and degrading the quality of American elections.”

Mark Curriden

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