Not So Above the Law: A professor at the University of Miami School of Law is suing the legal gossip blog Above the Law for $22 million dollars, reports The National Law Journal’s Karen Sloan. Donald Marvin Jones says the Web site portrayed him in a false light and invaded his privacy when it featured him in a series of posts after he was arrested and charged with trying to solicit a prostitute. The charges were eventually dropped. And Jones says ATL's coverage degenerated into vicious racism.
Mutual Suspicion: The U.S. Supreme Court on Monday seemed reluctant to question the fees mutual funds pay to the investment advisers who run them. According to The National Law Journal’s Tony Mauro, several justices seemed ready to side with business groups in Jones v. Harris and Associates, wondering aloud whether the court was in a place to second-guess market decisions.
Another Dreier?: Partners at Fort Lauderdale, Fla.-based Rothstein Rosenfeldt Alder are asking the court to dissolve their firm after discovering money missing from accounts created by its co-founder, Scott Rothstein. According to court filings, the politically connected attorney may have sold non-existent settlements to investors. The Wall Street Journal says the firm could meet the same fate as New York’s Dreier LLP, which collapsed after revelations that its own founder had defrauded investors by selling bogus notes.
Bullets are Flying…Off the Shelves: Gun owners are spending a record amount of money on guns and ammunition, which has left a shortage of bullets in stores, says The Washington Post. Americans bought 12 billion rounds this past year, up from 7 billion to 10 billion in a normal year.