MATLAB is configured to search its static java class path before searching the user-modifiable dynamic path. Unfortunately, the static path contains quite a number of very old public libraries, so if you are trying to use a new version you may end up loading the wrong implementation and get errors.
For instance, the static path contains an old copy of the google-collections.jar, which has long been supplanted by Google's guava library and which has some of the same class names (e.g. com.google.common.base.Objects). As a result, if you invoke a Guava method that uses a newer method of one of such a class, you will end up getting surprising NoSuchMethodErrors because the google-collections jar is found first.
As of R2012b, MATLAB lets you specify additional jars to add to the static path by putting a javaclasspath.txt file in your preferences folder, but that adds jars to the end of the path, and doesn't let you override jars that are built into MATLAB.
So what is the best way around this?