FULL PRODUCT VERSION :
java version "1.7.0_03"
Java(TM) SE Runtime Environment (build 1.7.0_03-b05)
Java HotSpot(TM) 64-Bit Server VM (build 22.1-b02, mixed mode)

ADDITIONAL OS VERSION INFORMATION :
Microsoft Windows [Version 5.2.3790]

A DESCRIPTION OF THE PROBLEM :
When using a singular classpath, e.g.

java -cp lib/* my.package.MyClass

the result is:

Error: Could not find or load main class lib.first_file_in_folder.jar

When adding one or more (empty) paths to the classpath, this error does not occur; e.g.

-cp lib/*;lib/*
or
-cp lib/*;
or
-cp ;lib/*

The error is always the same, stating that Java cannot find or load a class which is actually the first file in the specified folder.

REGRESSION.  Last worked in version 6u29

STEPS TO FOLLOW TO REPRODUCE THE PROBLEM :
1. Have a jar with some executable file in it, store it in a folder.
2. Use any command line (I haven't tested this on an OS other than Windows XP or Win7 ) and execute the following command:
3. Execute the class by adding the folder containing the jar to the classpath;
java -cp path/to/folder/* TheClass

EXPECTED VERSUS ACTUAL BEHAVIOR :
EXPECTED -
When using JDK 1.6 this error does not occur, the program would execute.
ACTUAL -
Java could not find or load the main class <some jar file on the classpath>

ERROR MESSAGES/STACK TRACES THAT OCCUR :
Error: Could not find or load main class lib.annotations-1.3.9.jar

This happens to be the first jar file in my lib folder.

REPRODUCIBILITY :
This bug can be reproduced always.

CUSTOMER SUBMITTED WORKAROUND :
Add one or more (empty elements) to the classpath, simply adding a classpath separator is enough, e.g. -cp lib/*; over -cp lib/*