We've all been waiting for the other shoe to drop since word leaked in April that AIG was getting ready to sue the banks that sold it $40 billion in toxic mortgage bonds. On Monday AIG's lawyers at Quinn Emanuel slammed it down--and hard. The bank's new litigation woes, coupled with the U.S. credit downgrade, may have conspired to knock 20 percent off BofA's stock price on Monday.

American International Group was forced through a menacing gauntlet over the last few weeks in its $10.5 billion mortgage-backed securities case against Countrywide and Bank of America. But according to AIG and its lawyers at Quinn Emanuel, the company emerged late Wednesday with barely a scratch.

An iconic liquor scored an injunction against an alleged copycat and a small furniture maker accused a larger retailer of ripping off its designs. In the smartphone wars, Samsung Electronic Co. Ltd. uncovered some ammunition in its bid to undo the $1 billion verdict it lost to Apple in August.

Ever heard of Wydallis v. U.S. Fiduciary and Guaranty? Lawyers for Bank of America apparently hadn't until a judge in Los Angeles suggested they consider its impact on AIG's $10.5 billion suit against Countrywide. They paid attention, and any company with a New York address that's incorporated in another state might be interested in their interpretation.

A group of investors are hoping to persuade a Delaware Chancery Court judge to block BankAtlantic's proposed sale of $2.1 billion in loans and $3.3 billion in deposits to BB&T. The trial promises to be a big test for BankAtlantic counsel Eugene Stearns of Stearns Weaver Miller Weissler Alhadeff & Sitterson, who's also defending the bank against newly-filed SEC fraud charges.

Given the jury's finding of willful infringement, the verdict could be tripled by U.S. District Judge Lucy Koh, who could also issue a permanent injunction against Samsung.

Three months after a jury handed Apple a record $1.05 billion verdict against Samsung Electronics, the companies' legal squadrons faced off in a three-hour debate over damages awards and injunctions.