3 hours ago - Business

Personal injury law giant Morgan & Morgan considers investment

Dan Primack

Illustration of a scale with colored shapes and images of dollars. — Illustration: Gabriella Turrisi/Axios

Morgan & Morgan, the country's largest personal injury law firm, may seek to raise more than $1 billion via a minority investment, per multiple reports.

Why it matters: This could supercharge the regulatory debate over MSOs, a structure that law firms use to sidestep rules against non-lawyers owning their own practices.

Some states are seeking to stop private equity investment in MSOs, which create a legally separate entity for a law firm's back-office activities.
No firm has yet used an MSO to go public, although that may just be a matter of time.

Zoom in: JPMorgan is advising Morgan & Morgan, which is a lot of Morgans.

The firm is based in Orlando but has offices in every U.S. state and nearly 1,200 attorneys.
Forbes reported in 2024 that it had over $2 billion in revenue and spent around $350 million in advertising.

The bottom line: Firm founder John Morgan tells the FT that he hasn't made a final decision, saying he still needs to learn more about MSOs and doesn't like "usury rates" charged by private equity.

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Personal injury law giant Morgan & Morgan considers investment

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