This paper reports on the protracted history of the Arkansas school-finance case, the longest-running school-finance lawsuit in the United States. It details in chronological sequence the lawsuit filed in 1992 by the Lakeview School District, a very small all African-American school district alleging that the state school-finance plan was unconstitutional. In 1994, the Chancery Court found that the state plan violated the educational and equal protection sections of the Arkansas Constitution and gave the state 2 years to "enact and implement appropriate legislation in conformity with... [this]... opinion." The school-finance law was found to fail on the basis of both equity and efficiency, and the state was ordered to develop a new system. Since, 1995, different governors, a slow-moving judge, and a second suit accusing the state of inadequacy have further complicated and delayed the original decision. (DFR)