Need somebody to get on here and filter the legal terms of this suit.

Can't be that easy to sue across international borders in domestic court.

A 75 million dollar lawsuit is going to do nothing other than add more instability to Bitcoin....I seriously hope this stuff is addressed at this month's conference.  This is a childish play on the part of both parties and is not in the spirit of building Bitcoin.

...and regarding MtGox

MtGox is clearly failing at their duties to protect the integrity of Bitcoin.  Last month's crash and the ensuing decline in consumer confidence falls squarely at their feet.  Yet we take it because this underfunded venture has a track record of creating (limited)fiat liquidity.  The whole market reeks of manipulation yet MtGox claims that they are large enough and well funded enough to deal with these problems.  I'm in total agreement that its high time another exchange arises to create competition.