So I see this as another big trend on Google today and I'm like umm like that Chris Webber led Michigan team?

Well, not quite. Then I read the headlines and figured that these kids did something terrible. Basically, it sounds like these girls were like the real life Mean Girls which seems to go on in every school to some degree. 

Anyways, this story seems to be in the news today since Lifetime is making about move about it. 

...Lifetime, known for its female-focused fare, is now filming Fab Five: The Texas Cheerleader Scandal based on the local school's squad that erupted in national scandal in 2006. The movie is planned to come out this summer.

...

To recap the real story: Ms. Ward told the media in October 2006 that she resigned as cheerleading coach because administrators stymied her efforts to discipline her unruly charges, specifically a group of seniors known as the "Fab Five."

 

Among the more saucy allegations, she said the girls posted a photo of themselves holding phallus-shaped candles in a condom store on MySpace, broke the dress code, talked back to teachers and generally ran amok. The supposed ringleader happened to be the principal's daughter.

.... 

http://www.dallasnews.com/sharedcontent/dws/news/city/collin/mckinney/stories/022908dnmetfabfive.15fbaaf.html