Does the naked cowboy have a case?

NYC's beloved (!) Naked Cowboy of Times Square is suing CBS for allegedly ripping him off in its promos for the Bold and the Beautiful.

http://www.nydailynews.com/entertainment/tv/2011/02/14/2011-02-14_naked_cowboy_getting_dressed_for_court_files_lawsuit_against_cbs_for_bold_and_th.html

Does the guy have a case? doesn't it take time, money and effort to go to court?