After leaving his career as a lawyer to become an investment banker at Sidwell Investment Group in Suits Season 4, Mike Ross finds himself on opposite sides of a takeover struggle with Harvey Specter. Although their personal connection is strained by their business rivalry, they ultimately get back together.

Important story points consist of:

• Mike vs. Harvey: When Mike attempts to outmaneuver Harvey in a hostile takeover, putting his job and relationship with Rachel at danger, their rivalry gets more intense.
• The Relationship Between Rachel and Mike: When Mike learns that Rachel kissed her ex-boyfriend and Pearson Specter client Logan Sanders, tension builds.

• Louis Litt's Struggles: Louis resigns after taking a risky financial move to support the company. But after he learns Mike's deception, he comes back when Jessica and Harvey are forced to make him a name partner.

• The firm's new name, Pearson Specter Litt, was the result of Louis discovering that Mike never attended Harvard and using this knowledge to gain his position as a name partner.

The firm is united yet weak at the end of the season, laying the groundwork for new power dynamics and problems in the next one.