Hogan Lovells CEO Stephen Immelt will end his six-year tenure as the firm’s leader on a high note. The global firm said that revenue in 2019 rose 6% from the prior year to $2.25 billion while profits per equity partner jumped 9% to $1.5 million.
For centuries it was considered taboo for a third-party to have a financial stake in a lawsuit. Today, thanks to an industry re-examining the relevance of legal doctrines from feudal times, a new crop of firms have sprouted to invest in lawsuits for profit. The concept, known as litigation finance, has quickly spawned a multi-billion dollar industry that is getting the attention of the country’s largest law firms.