When a newspaper runs a scandalous story about debutante Connie Allenbury (Esther Williams), her powerful broker father threatens the newspaper's editor, Warren Haggerty (Keenan Wynn), with a massive lawsuit.
Faced with a libel suit from the socialite Allenbury, Haggerty cooks up a plan to beat her at her own game. To do this, he must rely upon the romantic chicanery of ex-employee Bill Stevens Chandler (Van Johnson), with Haggerty's fiancee Gladys Benton (Lucille Ball) caught in the middle.
Warren believes that, if he can prove Connie truly is a home-wrecker, as the article claims, he can file a countersuit against her. Warren then enlists his own fiancee, Gladys and reporter Bill Chandler to take part in a complex plan to turn the tables on the Allenburys.
Special Notes: Van Johnson, Esther Williams, Lucille Ball and Keenan Wynn expertly assume the roles originally played by William Powell, Myrna Loy, Jean Harlow and Spencer Tracy from the 1936 screwball comedy, Libeled Lady.