The once-storied firm suffered a series of high-profile defections and failed merger talks that left it with few options.
Leaders at Weil Gotshal are discussing a plan to wind down the law firm, according to people familiar with the matter.
The Wall Street Journal Markets reported that the firm has faced mounting challenges, including a string of partner departures and unsuccessful merger discussions.
These developments have significantly weakened the firm's position, prompting executives to consider an orderly shutdown rather than continue operating under the current circumstances.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing