One of the underlying problems with Twitter is the absolute ease with which a person can set up an account using anyone’s name. This is especially common when it comes to famous people and can lead to stupid incidents of lawsuits being threatened as in the case of Tony LaRussa.

In an announcement today on the Twitter everyone’s newest crack addiction play toy set the record straight as far as the rumor that they had settled the frivolous lawsuit – they haven’t. It is Twitter’s feeling that the lawsuit will be tossed.

At the same time they also announced an upcoming beta preview, sometime this summer, of what they are calling Verified Accounts.

The experiment will begin with public officials, public agencies, famous artists, athletes, and other well known individuals at risk of impersonation. We hope to verify more accounts in the future but due to the resources required, verification will begin only with a small set.

The post also says that the verification system won’t be tested with business, but that they do see an opportunity ($$$$ ?) in this area.