Altman Weil Survey Says Corporate Legal Budgets Cut As Most CLOs Negotiate for Lower Law Firm Bills

A new Altman Weil survey of corporate legal spending isn't happy news for law firms. For the first time in three years, more in-house legal departments are reducing, rather than increasing, their spending on law firm services, the Phildelphia Business Journal and Reuters report. Almost 40 percent of those responding to the consultant's 2012 survey of chief legal officers said they cut their...