During the hey day of the dot com boom and the IPO frenzy of the late 90's, Brobeck, Phleger & Harrison became the most sought after and profitable law firm in California. At one time potential clients had to pitch Brobeck in order to have the “privilege” of representation by the firm.
Today, I discovered that the firm (thank you Amar) is closing its doors by end of day tomorrow, or Monday at the latest.
[…] At Brobeck's offices on the 28th floor of San Francisco's One Market tower, lawyers huddled in small groups in the lobby. They spoke in hushed tones and eyed visitors warily.
Few would speak to a reporter on the scene as they waited for an afternoon meeting on the firm's fate […]
Its failed attempt to close a merger deal with East Coast firm Morgan, Lewis & Bockius, its huge real estate obligations and a $90 million debt with Citibank put the final nail in the coffin of what was once the most respected tech law firm in the Bay Area, if not California.
Brobeck also was a marketing innovator. Building a brand that gave it huge awareness and recognition in the tech community and on Wall Street. Unfortunately, it's a classic case of growing too fast too soon, lack of “sales” to support a huge infrastructure and uncontrolled spending way past the “good ole days.”
