AI firm Crosby bids for assets of dissolving Weil Gotshal
Summarised from 2 outlets · Updated 1 Nov, 12:25 · Archive
Silicon Valley AI-first law firm Crosby has bid to acquire assets of Weil Gotshal, the renowned Wall Street firm preparing to dissolve.
Weil Gotshal & Manges, a renowned Wall Street law firm that has operated for 95 years, is preparing to vote on dissolution in the coming days. The wind-down follows the firm's presumed leadership successor turning down the role, a number of its top-producing lawyers leaving, and a planned merger with rival Willkie Farr & Gallagher being shelved.
Two-year-old AI-first law firm Crosby has entered the picture with a bid to acquire some of Weil Gotshal's assets, including its trademark, brand and unspecified internal data. Crosby is separately working to hire some of the firm's approximately 1,200 lawyers.
Crosby, which emerged from stealth mode in 2025 with $5.8 million in seed funding, has raised approximately $85 million to date, including a $60 million Series B round in March. Unlike other AI legal technology firms that sell their systems to existing law practices, Crosby operates as an actual law firm, using internally developed AI to provide legal services at speeds it claims have not been possible before.
How it is being reported
- Weil Gotshal: what happens now at the troubled Wall St law firm?The New York legal powerhouse is shutting down after 95 years in business after an exodus of top talentFinancial Times · 1 Nov, 12:00
- AI law firm Crosby bids on disintegrating, famed firm Weil GotshalLike a real-life episode of Suits, the demise of famed white-shoe Wall Street law firm Weil, Gotshal & Manges has been the talk of the legal industry. And now, an AI firm has entered the picture.TechCrunch · 30 Oct, 19:55
In this story: Crosby · Weil Gotshal & Manges · Willkie Farr & Gallagher · Wall Street · Silicon Valley
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