A student taking a course in cyberspace law learns how Lucasfilm bought out one domain…
The Wookiee costume is a bit much – is a lame domain like PhantomMenaceNews.com worth a Wookiee costume? I don’t think so.
Also, the domain in question seems to be not owned by Lucasfilm at the moment. (Going to the actual site will get you ads and popups. Nothing NSFW, just annoying.) And this list of websites from Echo Station (not updated since August 1999, as good a time capsule as I could find) lists that the site had no DNS (translation: not pointing anywhere) at the time. The Wayback Machine is more of the same.
The law firm does exist. But the story as a whole I’m giving a hearty ‘maybe.’