1. Do you have enough reputation to be ruined? You have to establish that.
2. Other party said was true or false? If it was true then you have no case.
3. Once you are on the court all your little dirty details were be uncovered and can you live with it?
4. Does damage justify the cost?
For most people like you and me it is not worth the trouble to go through that. Just chill out for couple of days and think it over.