Feb 3, 2018

Shervin Pishevar drops lawsuit against political research firm

Illustration: Lazaro Gamio / Axios

Venture capitalist Shervin Pishevar on Friday dropped his lawsuit against political opposition research firm Definers Public Affairs.

Backstory: In November, Pishevar sued the firm, claiming that it had engaged in a smear campaign related to his arrest in London last year for alleged rape (he was never charged). Definers had denied the allegations.

From Pishevar, via a spokesman:

Today I filed a request to dismiss the Definers lawsuit. No damages were paid. I now intend to continue to focus my full attention on those who should ultimately be held responsible for the smear campaign that has been waged against me, including the falsification and distribution of the fraudulent London police report. The fraudulent police report is being investigated by law enforcement so we are hopeful the culprits will be found and justice will be served.

From Definers partner Tim Miller:

The suit has been dismissed with prejudice and no damages were paid as the allegations against Definers were untrue. We are pleased to have this behind us.

Go deeper: Entrepreneur details first on-the-record allegations against Pishevar

Go deeper

Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.