AI-driven law firm Crosby has submitted a bid for part of the assets of Weil Gotshal & Manges, the well-known Wall Street firm that is nearing a breakup, according to Techub News. The bid covers the firm’s trademarks, brand, and some undisclosed internal data. Crosby is also trying to recruit part of Weil Gotshal’s roughly 1,200 lawyers.
Weil Gotshal confirmed to The New York Times this week that it will vote in the coming days on whether to dissolve. The firm has been under pressure after its planned leadership successor declined the role, several high-producing lawyers left, and a merger plan with rival Willkie Farr & Gallagher was put on hold.
TechCrunch reported that Crosby operates as a law firm that uses its own AI technology to deliver legal services, rather than selling AI tools to existing firms. The company has raised about $85 million to date, including a $60 million Series B round in March this year led by Lux and Index.
AI-driven law firm Crosby has made a bid for part of the assets of Weil Gotshal & Manges, the prominent Wall Street law firm that is nearing dissolution, according to Techub News. The offer includes Weil Gotshal’s trademarks, brand, and some undisclosed internal data.
Crosby is also attempting to recruit some of the firm’s roughly 1,200 lawyers.
Weil Gotshal says a dissolution vote is coming
Weil Gotshal confirmed to The New York Times this week that it will vote in the coming days on whether to dissolve.
Before that, the firm’s planned leadership successor turned down the role, several high-producing lawyers departed, and a merger plan with rival Willkie Farr & Gallagher was put on hold.
Crosby has raised about $85 million
According to TechCrunch, Crosby is a law firm that uses its own AI technology to provide legal services, rather than selling AI tools to existing law firms.
The company has raised about $85 million, including a $60 million Series B round in March this year led by Lux and Index.
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