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Why a $2 Billion Law Firm Suddenly Collapsed

At the end of October, seemingly overnight, a major law firm called Weil Gotshal announced it was winding down after a number of partners departed and talks of a merger with another firm failed. So how did a $2 billion big law firm collapse in the span of a few weeks? In 2015, Yale Law professor John Morley published a paper called "Why Law Firms Collapse," that now looks very prescient, with his idea of a “partner run," or the law firm version of a bank run. What is especially interesting abou…

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BloombergLean L·6h ago
Why a $2 Billion Law Firm Suddenly Collapsed
At the end of October, seemingly overnight, a major law firm called Weil Gotshal announced it was winding down after a number of partners departed and talks of a merger with another firm failed. So how did a $2 billion big law firm collapse in the span of a few weeks? In 2015, Yale Law professor John Morley published a paper called "Why Law Firms Collapse," that now looks very prescient, with his idea of a “partner run," or the law firm version of a bank run. What is especially interesting abou…
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Why a $2 Billion Law Firm Suddenly Collapsed

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