Investment bank Greenhill & Co. has announced plans to a leveraged recap and share repurchase. The multi-stage transaction would include $300 million in financing from Goldman Sachs, which would mostly be used to buy back stock. The investment bank's founder Robert Greenhill and its CEO Scott Bok each will buy $10 million worth of shares, with Bok taking a 90% salary cut. Overall, Greenhill could repurchase up to 30% of its outstanding stock.

Why it matters: Because this is Greenhill taking a big step toward re-privatization, 13 years after becoming one of the first M&A boutiques to go public. The firm's shares have plummeted by more than 75% since the beginning of 2014, as it has fallen from 16th to 49th among global deal advisors (per Deallogic).

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Federal judge blocks DOJ from defending Trump in Carroll rape defamation case

E. Jean Carroll in Warwick, New York. Photo: Eva Deitch for The Washington Post via Getty Images

A federal judge on Tuesday dismissed the Justice Department's attempted intervention on behalf of President Trump in writer E. Jean Carroll's defamation lawsuit against him, after she accused him of raping her in a dressing room in the mid-1990s.

Catch up quick: The agency argued that Trump was "acting within the scope of his office" as president when he said in 2019 that Carroll was "lying" about her claim.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Axios-Ipsos poll: Federal response has only gotten worse — The swing states where the pandemic is raging.
  2. Health: The coronavirus is starting to crush some hospitals — 13 states set single-day case records last week.
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events.
  6. World: Unrest in Italy as restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.

Pre-bunking rises ahead of the 2020 election

Illustration: Eniola Odetunde/Axios

Tech platforms are no longer satisfied with debunking falsehoods — now they're starting to invest in efforts that preemptively show users accurate information to help them counter falsehoods later on.

Why it matters: Experts argue that pre-bunking can be a more effective strategy for combating misinformation than fact-checking. It's also a less polarizing way to address misinformation than trying to apply judgements to posts after they've been shared.