The legal community has been speculating about the "why" behind Wolf Block's collapse. Some point as far back as 1985, when Howard Gittis left as leader of the firm, as the start of the downfall. Others cite partner defections in the 1990s, a heavy reliance on its real estate practice, two failed merger attempts, or a lack of leadership in the last year. Chairman Mark L. Alderman said there is no question that in any other economy or any other credit environment, the dissolution would not have happened.
March 25, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
What took more than 100 years to build will take only 60 days to break down.
For the next two months, Wolf Block will wind down its practice and look to relocate the 300 attorneys and hundreds more staff to new workplaces. The firm voted Monday to dissolve its practice in the face of constricting credit lines and slumping practices in the tough economy.
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