American law firm
Latham &amp; Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, Latham is the second-largest law firm in the world by revenue. As of 2022, Latham is also one of the most profitable law firms in the world, with profits per partner exceeding US$5.7 million.
History.
The firm was founded in January 1934 in Los Angeles, California, by Dana Latham and Paul Watkins. Latham's practice focused on state and federal tax law, and he eventually served as Commissioner of the U.S. Internal Revenue Service under President Dwight Eisenhower. Watkins's practice focused primarily on labor. At first, the firm grew slowly, with only 19 attorneys employed as of 1960.
As of 2020, the company is known for lobbying and litigating against actions to mitigate climate change. According to the Law Students for Climate Accountability, "Latham &amp; Watkins is the only firm to be in the Top 5 Worst Firms for both transactions and litigation exacerbating climate change."
Amid the global recession in 2009, the firm laid off 190 lawyers and 250 paralegal and support staff, representing twelve percent of the firm's total associates and ten percent of the support staff. At a time when many firms were conducting layoffs, the term "Lathamed" became legal slang for being laid off.
At one time Latham &amp; Watkins was considered to be the world's largest law firm by total revenue when, in February 2018, it surpassed $3 billion in annual revenue.
As of February 2021[ [update]], Latham's largest office is in New York City, with more than 450 lawyers. ;ref name="lw.com/newyork" ; ;/ref ; The firm claims it is the only fully integrated multinational law firm with no single headquarters. In 2007, Latham became the first American law firm to attain more than $2 billion in yearly revenue, and in 2018 it was the first law firm to report more than US$3 billion in gross revenue. As of 2018, it was briefly the highest-grossing law firm in the world, but has since lost the number one spot to Kirkland &amp; Ellis.
Latham opened its first office in Moscow in 1992, and thereafter represented a number of Russian state-owned companies. These clients include the state-owned bank VTB and the natural gas producer Novatek. Latham ended its Russia operations in March 2022, following Russia's invasion of Ukraine. In August 2023, Latham announced the decision to close its Shanghai office amid consolidation of its operations in China. 
After the wave of global protests against Israel's response in Gaza to the October 7th attacks, in November 2023 Latham &amp; Watkins was among a group of major law firms who sent a letter to top law school deans warning them that any incidents targeting Jewish students would have corporate hiring consequences. The letter said "We look to you to ensure your students who hope to join our firms after graduation are prepared to be an active part of workplace communities that have zero tolerance policies for any form of discrimination or harassment, much less the kind that has been taking place on some law school campuses." The letter was denounced by a coalition of Muslim bar associations as contributing to Islamophobia and a climate of fear in the legal community.
In February 2024, Latham cut off its Hong Kong–based lawyers' access to content in its U.S., Europe, Middle East, and Asia databases.
Rankings.
Latham was ranked as the No. 1 firm in the "Am Law 100" rankings for 2017. In 2021, the firm received the highest number of practice and lawyer rankings from "Chambers and Partners". Dubbed an "A-List All-Star" by "The American Lawyer", the firm is one of three firms to appear on the A-List each year since its inception in 2003. "Vault.com" named Latham one of the top five most prestigious firms in the United States and the most prestigious firm in Southern California.
References.
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