Two things stand out about New York Supreme Court Justice Barbara Kapnick's ruling allowing ACA Financial to move forward with its fraud suit against Goldman Sachs. First, the ruling bucks the recent trend of courts dismissing suits by sophisticated parties involved in the CDO market. Second, Goldman is tripped up by its admissions in its $550 million settlement with the SEC.

Lawyers for Bank of New York Mellon at Paul Weiss failed to persuade a New York state judge to toss claims that BNY negligently subordinated noteholders to billions of dollars of additional senior debt when Lyondell acquired Basell in a disastrous 2007 leveraged buyout.

After cycling through nine sets of his own lawyers, Paul Ceglia, the man claiming to own at least half of Facebook, wants a judge to exile Facebook's lawyers at Gibson Dunn and strip them of their fees. Facebook's lawyers, meanwhile, want a judge to force Ceglia to turn over a letter from Kasowitz Benson they say shows once and for all that he's a fraud.

A California federal jury sided Friday with TransPerfect Solutions and its lawyers at Latham & Watkins and Kasowitz Benson in a patent showdown between rival website translation businesses. Competitor MotionPoint Corp. and its lawyers at Quinn Emanuel didn't prevail on any claims.

Partner Michael Shuster has a plan for getting around the daunting protections of foreign sovereign immunity. At stake are art works by El Greco and Velazquez.