Earlier this month, Peter Nelson began his three-year term as Managing Partner of Minneapolis-based Dorsey & Whitney. With 17 years at the firm, Nelson played a key role in expanding Dorsey’s presence, helping to integrate new market locations such as Dallas, which launched in early 2017 with attorneys — including Larry Makel, Gina Betts and Jamie Whatley — from what was then the Dallas office of Schiff Hardin. The Texas Lawbook recently talked to Nelson about Texas being a critical market for the firm’s current and future growth.
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.
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.
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.
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.
Texas Lawbook 50 — Susman Godfrey Scores ‘Second Best Year Ever’ in 2024
Even as Susman Godfrey is engaged in a monumental federal court fight with President Donald Trump that threatens the law firm’s very existence, the Houston-based litigation powerhouse reported 2024 revenues and profits that are once again the envy of their competitors. The firm’s revenues last year were down from its record-smashing numbers of 2023, but it was still Susman Godfrey’s second-best year in its 44-year history.
Updated — Susman Godfrey Vows to Fight Trump Executive Order, Simultaneously Scores Win in Billion-Dollar 2020 Presidential Election Defamation Case
The Texas litigation powerhouse Susman Godfrey said Thursday morning that it will fight President Donald Trump’s executive order signed Wednesday that accuses the Houston-based law firm of “egregious conduct and conflicts of interest” and representing “clients that engage in conduct undermining critical American interests and priorities.” The president’s EO came the same day that a Delaware judge gave lawyers for Susman Godfrey and their client, Dominion Voting Systems, a huge court victory against Newsmax Media in a multibillion-dollar defamation lawsuit related to the 2020 presidential election. Last week, Susman Godfrey joined an amicus brief that accuses President Trump of illegally using executive orders to punish law firms who represent clients or causes that he opposes.
Nine Texas Litigation Firms Sign Amicus Brief in Opposition to Presidential EOs
Stating that their “abiding commitment to preserving the integrity of the American legal system leaves us no choice,” 504 law firms across the U.S. signed an amicus brief Friday supporting the corporate law firm Perkins Coie in its battle for survival against the Trump administration. Of those 504 law firms supporting Perkins Coie, only nine are based in Texas and not a single law firm with a corporate transactional practice signed the brief. The firms include Yetter Coleman, Susman Godfrey, Graves Dougherty, Nachawati Law Group, Aldous Law, Crain Brogdon and Waters Kraus.