Many Law Firms Spared Worst of Covid-19 Crisis: Wells Fargo

Big Law has taken an economic hit during the coronavirus pandemic, but a new Wells Fargo Private Bank survey suggests that firms so far have avoided the level of pain that’s been inflicted on other industries.

Law firms reported a 10.4% decrease in demand in May when compared to the same month in 2019, but a strong first quarter meant that overall demand only dropped 1.4% over the first five months of 2020, according to the new survey by Wells Fargo’s Private Bank Legal Specialty Group.

Wells Fargo analysts predict that the toughest months of the crisis for firms may ...