Posted Apr 13, 2012 11:56 am CDT
Although no partner dissolution vote has been taken, a suburban St. Louis law firm is considering winding down its operations after failing to reach agreement with Polsinelli Shughart about a possible merger.
Suffering from both a slowdown in transactional work and increasing corporate emphasis on getting top value for legal expenditures, Gallop Johnson & Neuman is poised to close its doors, according to the Kansas City Business Journal and the Post-Dispatch.
“We are engaged in preliminary activities for a potential winding down of the firm,” managing partner Thomas Campbell told the newspaper on Thursday evening.
Formed in 1976, the firm had 60 attorneys at its height and about 55 now. In addition to its Clayton, Mo., headquarters, it also has offices in Oklahoma City and Washington, D.C.
Although a merger with Polsinelli is not in the cards, a portion of the Gallop Johnson lawyers may still move there, the business journal says.