The Canada Brief

Tech · 5 d ago

Wall Street, New York

Dietmar Rabich · CC BY-SA 4.0 · Wikimedia Commons

AI law firm Crosby bids for assets of Weil Gotshal

Crosby, a two-year-old law firm built around AI, has bid for some assets of Weil Gotshal, including its trademark, its brand and some internal data. It is also working to hire some of the firm's 1,200 lawyers.

Background

Weil Gotshal, a famed Wall Street firm, is preparing to vote on dissolution in the coming days. Its presumed heir apparent turned down the leadership role, top lawyers left and a hoped-for merger with Willkie Farr & Gallagher was shelved.

What we know

  • Crosby has bid for the brand and some data
  • Weil Gotshal is set to vote on dissolution

Not yet

  • The terms of the bid
  • Whether Crosby will win

The terms of the bid were not disclosed, and there is no guarantee Crosby will prevail.