A major Philadelphia law firm founded in 1903 is disbanding, citing the economic crisis.
WolfBlock LLP has more than 300 lawyers. The firm announced Monday that the partners have voted to shut down, but not immediately. They plan to keep operating for several months so the transition will be orderly for clients and employees.
WolfBlock says its core practice is real estate law and the recession has hurt that greatly. The credit crisis is another factor it the decision to close.
In addition to its Philadelphia headquarters, WolfBlock has offices in Boston; Cherry Hill, N.J.; Harrisburg, Pa.; New York; Norristown, Pa.; Roseland, N.J., and Wilmington, Del.
Copyright AP - Associated Press
