Two-year-old AI-first law firm Crosby has submitted a proposal to acquire select assets of the fading Wall Street firm Weil Gotshal & Manges, including its trademark, brand and unspecified internal data, TechCrunch reported. The startup is also pursuing the recruitment of some of Weil Gotshal's 1,200 lawyers, according to The Information.
Weil Gotshal confirmed to the New York Times that it will vote on dissolution in the coming days. The firm's wind-down follows the refusal of its presumed leadership heir, the departure of several top-producing attorneys and the collapse of a planned merger with rival Willkie Farr & Gallagher, the newspaper said.
Crosby's founders claim their model represents the future of law firms. Instead of licensing their internally built AI to existing firms such as Harvey or Legora, Crosby operates as a law firm itself, using AI to deliver legal services at a speed they say has never been seen before.
The startup has raised roughly $85 million, including a $60 million Series B round in March led by Lux and Index, with participation from seed-lead Sequoia, Elad Gil, 01 Advisors and Bain Capital Ventures. Crosby emerged from stealth in 2025 after securing $5.8 million in seed funding.
No one has directly linked the rise of legal AI to Weil Gotshal's collapse, but AI could shape the sector's future. The terms of Crosby's bid were not disclosed and there is no guarantee the offer will be accepted. If successful, the legacy of Weil Gotshal might be revived in a new AI-first form.
