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What colorful method does Claire Miley use to keep up with the latest healthcare regulations as they relate to proposed transactions? Find out more>

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On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

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Securities Law Exchange BlogSecurities Law Exchange blog offers insight on the latest legal and regulatory developments affecting publicly traded companies. It focuses on a wide variety of topics including regulation and reporting updates, public company advisory topics, IPO readiness and exchange updates including IPO announcements, M&A trends and deal news.

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Defense of Patent Infringement Against Patent Troll

Client Type: Private Company

Members of the intellectual property litigation group successfully resolved a patent infringement suit filed by a prolific patent troll in the online retail industry against our client, one of the world's largest manufacturers of outdoor camping gear. In early 2013, the troll filed a series of patent infringement suits against our client and a group of similarly situated online retailers in the Eastern District of Texas asserting patents claiming web-based technology related to online product brochures. The troll had successfully asserted the same patents against a car company in a related case filed several years earlier, obtaining an $11.6 million dollar jury verdict that was affirmed on all counts by the Federal Circuit. The troll leveraged the earlier verdict to extort six and seven figure settlements from more than 150 subsequent defendants. The troll attempted to do the same to our client and its co-defendants; however, our defense team in coordination with the joint defense group formulated a novel invalidity argument to contest the validity and enforceability of the asserted patents, which proved to be a game changer in the ongoing settlement discussions. The defense group filed a 12(c) motion challenging the troll's patents based on ineligible subject matter under 35 U.S.C. § 101. Upon filing of this motion, the troll's settlement demands significantly decreased in the face of the novel challenge to its patent portfolio. Our team ultimately negotiated a settlement on behalf of our client for a fraction of the troll's original settlement demand.

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