Like an episode of the real-life “Suits,” the decline of Wall Street’s longtime “white-shoe” firm Weil, Gotshal & Manges has been a hot topic in the legal industry this week. Now, Silicon Valley has joined the drama.
TechCrunch has confirmed that Crosby, a two-year-old AI-first law firm, has made an offer to acquire certain assets from Weil Gotshal, including its trademarks, brand, and some unspecified internal data. It is also reportedly attempting to recruit a portion of the firm’s 1,200 lawyers. The Information first reported the offer.
The once-prominent law firm Weil Gotshal confirmed to The New York Times this week that it is preparing to vote on dissolution in the coming days. According to The New York Times, after key leadership successors declined to take over, numerous top revenue-generating lawyers left the firm, and the anticipated merger with competitor Willkie Farr & Gallagher was abandoned, leading the firm toward liquidation.
Meanwhile, Crosby’s founders believe they represent the future of law firms. Unlike Harvey or Legora, which sell internally developed AI technologies to existing law firms, Crosby is itself a true law firm. The company uses its own AI to deliver legal services and promises to complete work at speeds previously unattainable.
The startup has raised approximately $85 million, including a $60 million Series B round completed in March of this year, led by Lux and Index, with participation from Sequoia, the lead investor in the seed round, as well as Elad Gil, 01 Advisors, and Bain Capital Ventures. Crosby emerged from stealth in 2025 with $5.8 million in seed funding.
No one has yet pointed to the rise of legal AI as a factor in Weil Gotshal’s decline, but AI may become pivotal to the future of the legal industry. The specific terms of this offer have not been disclosed, and there is no guarantee that Crosby will ultimately prevail. However, if successful, Weil Gotshal’s legacy might be reborn in some form—carried forward by an AI-first law firm.