In late 2366
/early 2367 the Borg
sent a Borg Cube
towards Earth, headed by spokesdrone Locutus
. They were met by the NCC-1701-D
commanded by William T. Riker
but defeated the 1701-D easily, then proceeded on towards Earth
The United Federation of Planets met the Borg at Wolf 359 with 39 ships, plus two Klingon battleships.
The NCC-1701-D arrived at Wolf 359 towards the end of the battle and managed to retrieve Captain Picard and defeat the Borg. A total of fifteen Federation starships were destroyed, including the USS Saratoga.
In Real Life it's the fifth closest star to the Sol system, approximately 8.1 light years away. It's an M8 star.
Looks like it may now be the sixth closest: http://www.smh.com.au/articles/2003/05/22/1053585646997.html