We've been waiting for this news for a week: On Friday, a government lawyer said the Justice Department and the Swiss bank had reached a settlement on the disclosure of the names of 52,000 wealthy Americans with UBS accounts, though he said it would take some time to finalize it. The announcement means we've almost come to the end of the delicate, diplomatic negotiations between the U.S. and Switzerland.

David Frederick is rapidly becoming the new best friend of plaintiffs at the Supreme Court. His latest win--for Merck shareholders suing over the company's Vioxx disclosures--should open the door wider for the securities class action bar.

It's time to declare third-party litigation financing a bona fide investment class: Invesco and Fidelity snapped up shares in Burford Capital, a fund whose personnel includes two former Time Warner GCs and three retired Latham litigation partners. Burford plans to invest in U.S. commercial litigation and international arbitration.