While in San Francisco, a man named Martin is in trouble and calls on Oliver Cutlass and Typhoon to help. The unusual pair must investigate something called the “Pajusnaya Consignment”.
After last issue and the mess that radioactive plant left in the Angel's Aerie, the New Defenders aren't able to stay there and decide to spend some time in San Francisco as a vacation.
Meanwhile, Cutlass and Typhoon, two very unique private investigators, are involved in an equally unique case in the area. The story is told in a humorously-noir-like style. One man has already been stabbed to death and dropped in the bay. Another man stumbles into their office, shot and dying. Cutlass runs after the assassin, hanging on top of a cab in order to chase him. The Defenders see him and Angel catches him as he is about to fall to the road.
Cutlass acts annoyed at the intrusion and expects them to make it up to him.
Elsewhere, Typhoon confronts another man involved in the case, only to be confronted herself by several men in black. The Defenders stop them, but the man is killed.
Meanwhile, Beast continues his college speaking tour, and enjoys the chance to talk with other intellectuals--as well as the occasional coed.
The DEA shows up at the scene of the Defenders' fight, but Typhoon knees him in the groin rather than accept his help. They go to a warehouse and find the gangster who is importing a bunch of illegal caviar--except that inside the caviar is actually cocaine!
They stop most of the gangsters, but some get away. They follow more clues to a boat, where the DEA is stopping the gangsters. Inside the DEA gets out the caviar, and also finds the cocaine inside. But Typhoon and Cutlass show that the actual illegal goods are digital records hidden in the caviar wrapping--the DEA agent is actually in on the whole thing!
In the end, a shadowy figure swears the Defenders must die.