So for those of you not following the Watchmen legal saga, the short version is this:
Fox optioned the rights in the 80s. DC thought that the option had lapsed, and took it elsewhere. Warner Brothers made the film, and once the film was made, Fox stood up and say "Hey, we think we still own that."
And a few days ago, the judge in the case ruled that Fox was right.
No one is arguing that they weren't in their rights to do so, but they might have said something before Warner Bros. spent hundreds of millions of dollars making and promoting the film, considering it's not like the production was shrouded in secrecy.
My thoughts on this are best expressed by Dan O'Brien's blog over at Cracked.com. So I'll just be one of many auxiliary blogs linking to that one.
"Watchmen" Fan Cordially Invites Fox to Eat Several Dicks