The latest incarnation of the American Dream is a bit removed from the days of Horatio Alger. It can best be summed up as, "Sue someone, get rich, never work again!"

Exhibit A: Dongmei Li, who is actually suing Apple (NASDAQ: AAPL), AT&T (NYSE: T) and Steve Jobs for $1 million for price discrimination, underselling, unfair and deceptive practices, and discrimination in offering rebates and credits, among other heinous violations of federal law.

The suit relates to Apple's decision to cut the price of the iPhone last month. According to the suit, "Apple's discrimination in price between early and later purchasers substantially caused the early purchasers to be injured because early purchasers cannot resell their iPhones for the same profit as later purchasers."

Aww! Is Li serious? If I buy a shirt for $25 and then it goes on sale and is $15, have I really been injured? This lawsuit is an absurd parody of just how litigious our society has become.

What's next? A $65 million lawsuit over a pair of missing pants?

Investors aren't exactly quaking in their boots: Shares of Apple hit a new all-time high today.