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Find out how Gardner Bell's experience promoting financial and economic development initiatives both locally and abroad informs his role as an attorney. 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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Successful Result in Case Involving Gas Hedging Charges

Client Type: Government

With a team led by Jessie Zeigler, we represented the Town of Smyrna, Tennessee in a lawsuit against the Municipal Gas Authority of Georgia (MGAG) in a case filed in the Middle District of Tennessee involving unauthorized natural gas hedging charges imposed by MGAG resulting in the Town's payment of several millions of dollars over a six year period. The Town alleged that MGAG breached its contracts, breached its fiduciary duties to the Town, engaged in deceptive practices under the Tennessee Consumer Protection Act and violated the Tennessee False Claims Act when it hedged natural gas prices in 2008, just as natural gas prices were starting to fall, fracking was increasing the supply of natural gas and the country was in a severe economic recession. Chief Judge Kevin Sharp ruled in our favor on numerous dispositive motions brought by MGAG, and we won MGAG's appeal to the Sixth Circuit in which it unsuccessfully argued it was a sovereign of the State of Georgia. Jessie Zeigler conducted the argument. The case was resolved very favorably for the Town on the day it was set to go to trial, after Chief Judge Sharp ruled in the Town's favor on MGAG's numerous motions to exclude the Town's evidence and the Town's experts. This ruling resulted in MGAG heavily pursuing resolving the case after four years of steadily refusing to even talk about a resolution.

Smyrna is a town in Rutherford County, Tennessee founded in 1855.

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