Marc Dreier, the prostitute-loving attorney accused of bilking investors out of more than $400 million, will be giving up his luxury prison: The disgraced lawyer pleaded guilty this afternoon to conspiracy, securities fraud, money laundering and five counts of wire fraud. He faces up to 20 years on each count of securities fraud, and prosecutors have indicated they plan to ask for a life sentence. Either way, his habit of wrapping his arms around much larger black men should continue to many years to come. [WSJ]

Does the name "Frenkel Lambert Weiss Weisman & Gordon" mean anything to you? No? Excellent. Feel free to move along. But if the name rings a bell because it happens to be the name of a law firm you've worked with the past, you may want to call another law firm right now since you're probably going to need a new lawyer to sue your old lawyer. It seems Frenkel Lambert filled up 61 dumpsters worth of client files—including medical records, social security numbers, addresses and the like—and dumped it on the street. Identity thieves were naturally quite pleased to see the sensitive info materialize downtown; when a Daily News reporter arrived on the scene yesterday, "several passersby were digging through the mountain of paper." Frenkel Lambert says it is now investigating the incident. In the meantime, we'll just have to there's a connection between this mishap and the "Code Shred" truck that was spotted around the corner early this morning. [NYDN, Dealbreaker]

Marc Dreier, the prostitute-loving disgraced lawyer accused of bilking investors out of hundreds of millions dollars, will plead guilty on May 11 to money laundering, according to his lawyer, Gerald Shargel. The saddest thing for Dreier? Once he does so, he'll have to say goodbye to this place. Can we interest you in a spectacular apartment in One Beacon Court, by any chance? [WSJ]

These are busy times for bankruptcy attorneys (they're also quite profitable times too), and stress levels are on the rise, according to psychologists. Presumably that will be Madlyn Primoff's defense when she answers to charges she abandoned her kids on the side of the road after she couldn't get them to stop fighting in the backseat. Primoff, who lives in Scarsdale and is a partner at Kaye Scholer, ditched her 10- and 12-year-old daughters in downtown White Plains on Sunday.

Weil Gotchal is one of three major law firms that has asked new associates to hang out until 2011 before showing up to work. The firms are encouraging recruits to push back their start dates on account of the recession, naturally, but Weil may have a harder time pleading poverty as of this afternoon. The firm just requested the largest quarterly fee in bankruptcy history for its work on the Lehman Brothers meltdown. Weil is asking a judge to turn over $55.1 million for the the work it has done over just the past four months—plus expenses, of course—and insiders say it will probably get every penny of it. And Weil is expected to earn another $200 million in the event General Motors files for bankruptcy protection. It isn't often that we wish we'd gone into bankruptcy law. But it looks like today is one of those days.

Is there a single major law firm in America accepting new recruits in 2009? Doesn't look like it! Earlier this week, the Times covered the story of a sixth-year associate at Skadden, Arps who was offered $80,000 to take a year off. (She's hoping to spend her time off "teaching English to monks in Sri Lanka" and helping to "bring solar power to remote parts of the Himalayas.") Even more common are the firms informing new associates that they're pushing back start dates by a few months. Or years.

Heather Eisenlord's law firm is paying her $80,000 to take the year off, travel around the world doing whatever, and wait for the economy to rebound. Fine, but who will save the chicken farmers?

Gregory Fayer, a 2004 Columbia Law graduate, has put out a press release touting his amazing legal skills: Getting Twitter to take down celebrity impostors' accounts. It's a tricky legal process which involves sending email.

Soon-to-be-former Minnesota Senator Norm Coleman has some of the best lawyers dirty money can buy. And one of them just basically admitted that his current strategy is "tie this election up in court forever."

The Bush administration lawyers who formulated and justified the worst abuses and excesses of the administration's war on terror conduct are having trouble finding work!

It sucks to find out you're getting laid off. It sucks a lot worse to find out you're getting laid off because a lawyer yakked about it at high volume on a commuter train.

The ad industry doesn't have too many black people working in it, which has never been that much of a concern to the whites. Until now, because a fancy lawyer might start suing everybody:

Why did crooked governor ROD BLAGOJEVICH'S fancy lawyer Ed Genson take the case? Because "it's fun"! For him, at least. Click to watch this silver-tongued master of sophistry woo the press, stupidly.

Another lawsuit has been filed against pervy American Apparel CEO Dov Charney, alleging he sexually harasses women and inflates his company's profits, as usual. But! AA has now filed its own suit saying that Nikky Yang (the ex-employee who's filed this new suit) is disgruntled and stole money while she was at AA and was always hitting Dov Charney up for money even after she left. (Yang is represented by Keith Fink, the attorney already in an ongoing feud with AA). And AA's suit includes many amusing emails from Yang to Dov, including this one from 2004 promising him a nice hot massage girl!:

Can hipster clothing conglomerate American Apparel and its balls-out CEO Dov Charney never have a normal, peaceful, lawsuit, which is settled quietly and forgotten about? Most recently, the company was fighting back against a lawsuit by ex-employee Roberto Hernandez by trotting out his ex-lovers and leaking documents showing that Hernandez himself recently defended Charney from the very charges he's now being sued for. And now AA is playing more legal hardball! The company is trying to prove to the world that Keith Fink, the lawyer for another ex-employee suing Dov for sexual harassment, is in fact an extortionate scumbag himself. Leaked internal emails below:

Yesterday we noted that Prozac Nation author and now Yale Law School grad Elizabeth Wurtzel didn't pass the bar exam, which she took back in July. Some commenters were very mad! that we! would point this out! And others seemed a little more meh about it. Actually, maybe the most meh about it was Wurtzel herself who, when told about the post by the New York Observer, didn't really seem to give a shit:

Cyrus Mehri is a big time civil rights lawyer who's won hundreds of millions of dollars worth of corporate discrimination settlements, and scared Wall Street and the National Football League into making serious integration-like movements. His latest project: the white-ass advertising industry. A new study found that only 5.8% of advertising professionals are black—a number that should be closer to 10%, based on the demographics of similar industries. And Mehri won't say whether he's planning a lawsuit, but he is delivering a verbal smackdown, oh yea:

Law school rankings couldn't possibly be rigged, could they? U.S. News is considering changing the way it ranks the schools—right now, schools can "game" the system by funneling lower-scoring students into a part-time program for their first year, where they don't count. If the magazine changes the way they rank the schools by counting part-timers, the WSJ says it "would roil the law-school rankings, which have a big impact on where students apply and from where law firms hire." Uh oh. What are some of the top-tier schools that could drop in rankings?

Once upon a time, media bulletin board site Mediabistro had a talented, anonymous ad blogger called Agency Spy, who got good dirt and the occasional undeserved murder rap. The original Agency Spy left to start her own blog a couple months ago, but earlier today she put up a post saying the site was grinding to a temporary halt. Why? Because, Mediabistro multimillionaire founder Laurel Touby said, MB was enforcing a noncompete agreement against her! Seems pretty petty, Laurel, considering you're the second-richest internet media woman in New York now. The $23 million Mediabistro machine can't compete with one little alumnus? Tisk tisk. [Adscam, The Brief]

Former Page Sixer Jared Paul Stern's defamation suit against billionaire creep Ron Burkle was recently tossed out, as we all know. But his nutty lawyer Larry Klayman promised an appeal! Unfortunately, that appeal can't go forward in New York just now. Klayman, who is insane, is not allowed to practice law in New York, and Stern's New York attorney just quit, saying his "military service is complete." Yeesh. Still, they'll hire a new guy and fight on. Why? Why continue embarrassing himself further? Stern explained why in a terse statement: "I've got nothing better to do than bury the fucker if it takes 20 years." Enjoy your gadfly, Ron!