Connell Foley Managing Partner Phil McGovern was quoted in a recent article published by the New Jersey Law Journal, "'No Getting Around' COVID for Law Journal's Top 40 Firms, but Revenue Still Grew for Some.” The article, which examines the impact of COVID on the revenue for firms in the New Jersey Top 40, noted that the overall outlook "didn't turn out as bad as we feared." While projections made in March and April of 2020 for many firms reflected a belief that the year would result in massive declines in revenue, few firms suffered a precipitous drop. In examining Connell Foley, it was noted that one of the biggest factors was the halt of litigation. "That stopped; there was no getting around that," noted McGovern.
McGovern went on to say that there was far more to 2020 than simply a focus on revenue. “Getting people through their concerns—whether it was professional concerns or personal concerns—I don’t want to use the word ‘challenge,’ but it did eat a fair amount of time,” he said. Now, the firm largely feels a sense of optimism for 2021 and beyond.
Click here to read the full article on the New Jersey Law Journal website (subscription may be required).