We recently watched the high school set Shakespeare drama O. This retelling of Othello was interesting and well acted, but ultimately robbed of some of its power by the setting.
This is not the first time Shakespeare has had one of his play changed in setting, but I think it is a testament to the power of his plays that they retain their power under adaptation.
If you are looking for a different type of teen drama, I recommend this movie. On my scale of 1-100, I rate it an 85.
