"Chicago firm Altheimer & Gray is set to dissolve, following Brobeck Phleger & Harrison into the history books as two of the legal sector�s biggest failures. It is understood that the firm will dissolve its partnership by July. But as early as yesterday, The Lawyer was informed that Altheimer had begun contacting local firms in a bid to find new homes for its partners," Britain's The Lawyer reports here.
The Chicago Sun-Times has more on the story here.
UPDATE: Is it collapsing, or not? The Lawyer.com (UK) keeps waffling: see here and here.