As Gallop, Johnson & Neuman—a 38-year-old, midsize firm based in the St. Louis suburbs—teeters on the brink of dissolution, several regional Am Law 200 firms are considering scooping up laterals from the 54-lawyer shop.

"We are engaged in preliminary activities for a potential winding down of the firm," Gallop Johnson managing partner Thomas Campbell told the St. Louis Post-Dispatch on Thursday.