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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 Salix Pharmaceuticals in Product

Client Type: Public Company

We represented Salix Pharmaceuticals in cases in multiple jurisdictions alleging renal failure suffered as a result of using a pharmaceutical product. The plaintiffs allegedly suffered renal failure after using a cleansing product that is routinely prescribed prior to a colonoscopy procedure. We conducted the initial investigation into the company's new drug application, amended warnings, adverse event reports, and other pertinent documents.  We collected and preserved the pertinent documents through the use of a complimentary and secure extranet for the client.  We identified and interviewed the key company executives and employees involved in the issues that were pertinent to the litigation.  These cases focused on the adequacy of the warning labels that accompanied the product and alternative products that were less effective but arguably carried less risk to the patient. One case was dismissed after we deposed the plaintiff and obtained an admission during that deposition that she had just perjured herself after being confronted with a document that contradicted her testimony.  Other cases were successfully resolved.

Salix Pharmaceuticals, Inc. (NASDAQ: SLXP) is a specialist pharmaceutical company that develops drugs and medical devices to prevent and treat various gastrointestinal disorders.

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