LECG

About LECG

In 1988, academics from the University of California at Berkeley, led by co-founder David Teece, formed the Law and Economics Consulting Group, Inc. The firm provided expert testimony and advisory services for legal, regulatory, and business matters. A decade later, in October 1997, the company rebranded as LECG and went public on the NYSE. The story took a turn when Navigant Consulting acquired LECG in a deal valued at $214 million. However, this arrangement was short-lived. In October 2000, a management team, with backing from private equity firm Thoma Cressey Equity Partners, bought back assets from Navigant. This move set the stage for LECG's second public offering, this time on the NASDAQ in 2003. Following its second IPO, LECG embarked on an acquisition spree to expand its services and geographic reach. A pivotal event was the 2009 merger with SMART Business Advisory & Consulting. Instead of strengthening the company, the debt from the merger became a significant burden. Facing mounting losses, high costs, and an inability to service its debt, LECG began selling off its practice groups in early 2011 to firms like FTI Consulting and Grant Thornton. The company was delisted from the NASDAQ in April 2011 and ultimately liquidated, unable to recover from its financial obligations.