Paul Schmidt Comments on Potential Downturn for Niche Law Firms

News / September 20, 2021

Chairman Paul Schmidt is quoted in an article published on Sept. 20, 2021, by The American Lawyer. The article “When Demand Falters, Which Law Firms Will Struggle?” reports on the potential that the current robust legal industry environment could falter and that unprepared firms may suffer.

Schmidt told the publication, “I could imagine if you were very, very industry-focused, on industries that weren’t doing well, as opposed to firms that are more broadly hedged are going to be clearly doing better, or firms in industries that are thriving, are going to do better. Clearly mergers and acquisitions and private equity have picked up tremendously, but I think if you were in a sector that was hit hard, and not well-hedged, that could have an impact.”

Read the article (registration required).