Denver Law Firm Isaacson Rosenbaum to Close
Denver law firm Isaacson Rosenbaum is closing its doors.
CEO Lawrence Donovan Jr. announced this morning that the firm would close at the end of the month, the Denver Business Journal reports. A small staff of administrators will stay on to help in the wind down.
“We will continue our focus on servicing and managing client business as we prepare to wind down the firm,” Donovan said in a statement.
Law Week Colorado was first to report on the closure, relying on information from people familiar with the situation. Isaacson Rosenbaum once had about 40 lawyers, but its website now lists 23 shareholders and five associates.
Some of the firm’s partners have recently defected to large law firms, including Greenberg Traurig and Gordon & Rees, the Am Law Daily reports. Isaacson Rosenbaum had sought to merge with a Phoenix-based law firm, but was unable to reach a deal.
Law Week Colorado attributes part of the firm’s problems to a lease negotiated just before the economic downturn. The lease “locked the firm’s shareholders into relatively expensive, albeit modern and energy efficient, offices even as commercial rents plunged,” the story says.