I was on a plane all day yesterday, so am a little late getting to this. Laura Gilbert has the story in The Art Newspaper. For background, start here. More later after I've had a chance to read the decision.
UPDATE: Okay, I've had a chance to read it. It's a long opinion, but it can basically be boiled down to: the fair use question is "a fact-sensitive inquiry that cannot be completed ... on a motion to dismiss." That's it; that's all there is to it. "[B]ecause the Court can only review the narrow set of facts that appear in the Complaint and its appended exhibits -- and because all of the plausible factual allegations contained in those documents must be viewed in the light most favorable to [Graham] -- the Court cannot conclude that any of the four fair use factors favors [Prince]."