St. Thomas School of Law lost its ranking spot on the U.S. News and World Report magazine list of "Best Law Schools" after an error in the schools reports.

The school's No. 119 spot was 16 spots higher than the school's previous position, reported the Star Tribune. Now it is pushed to "unranked."

According to St. Thomas' Bulletin, the School of Law reported the number of 2010 graduates employed at the time of graduation incorrectly. The school reported 80.6 percent of graduates had jobs at the time of graduation. The actual number was 32.9 percent.

St. Thomas reported the error immediately after it was seen in an advance copy of the rankings, saying it was an honest mistake.

Dean Thomas Mengler rejected the decision to unrank the school, saying that it will "create a disincentive for law schools to promptly report mistaken or erroneous data," reported the Star Tribune.

Editor of the U.S. News stood by the magazine's decision. The publication said that the school would be in the "unranked" category "until the publication of the next Best Graduate Schools rankings and until the accuracy of each school's next data submission is confirmed to U.S. News."

St. Thomas was second of four Twin Cities law schools, behind the University of Minnesota, ranked 19, and before William Mitchell, ranked 127. The school will now stand with unranked Hamline University.

Will Ferrell appeared on Conan O'Brien's talk show as lead character Ron Burgandy from "Anchorman" to announce there will be a sequel to the 2004 film.

After playing the jazz flute and insulting host O'Brien, Ferrell made the announcement, reported Fox News.

"Paramount Pictures and myself, Ronald Joseph Aaron Burgandy, have come to terms on a sequel to 'Anchorman,'" Ferrell said to the crowd Wednesday night. "There will be a sequel."

Ferrell's representative said Adam McKay, director of the first film, will direct the new movie, there wont be a 2 in the title, and Ferrell will write the script with McKay, reported the Wall Street Journal.

Co-stars Steve Carell, David Koechner and Paul Rudd are expected to return to their roles from the first movie as the Action 4 News Team.

Arab leaders met in Baghdad for their first summit in two years, reported CBC news. Only 10 of the 22 leaders were in attendance.

It is the first time Arab League leaders will meet since the Arab Spring began just over a year ago, and Irag is stepping out after a decade of bloodshed to host the event.

As Arab leaders came off their plane, an explosion was heard near the Iranian Embassy. No casualties were reported.

Iraq had sought to secure Badhdad but had avoided predictions that they could prevent such an attack during the meeting, reported the New York Times.  

The country had hoped the summit would signal its return to the Arab fold but the absence of Arab leaders and the inability to prevent attacks despite security operations may suggest that Iraq has a way to go before it can re-enter the Arab world, according to CBC.

On Wednesday night, Arab diplomats urged Syria to agree to a cease-fire plan from the United Nations, but the ministers and ambassadors refused to adopt measures calling for Syria's president, Bashar al-Assad, to resign or to arm opposition fighters.

Central Baghdad has been quiet since the summit began. Up to 100,000 security forces have been put in the city, nearly every bridge closed to traffic and several neighborhoods said they had no cellphone service. The government declared a national holiday for the summit and many Iraqis are at home watching the meeting coverage, according to the New York Times.

Security officials say their measures have been a success.