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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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FCPA: 2016 Year in Review & 2017 Enforcement Predictions

A review of trends and developments in FCPA as well as a look ahead into what to expect for 2017. This report aims at providing corporate leaders and companies with the knowledge they need to comply with the FCPA and avoid litigation in 2017.

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David Thornton Comments on Potential Problems for Hospitals that Manage Insurance Plans

Media Mentions

September 11, 2015

Bass, Berry & Sims attorney David Thornton was quoted in an article in Modern Healthcare about a whistleblower lawsuit involving two hospitals that had established self-funded insurance plans for employees. The lawsuit alleged that through these insurance plans that imposed high costs to employees, the hospitals drove up the wage index which in turn inflated Medicare payments. While the Department of Justice declined to get involved in the suit, it raises questions related to ERISA compliance. According to David, "when hospitals control their employee healthcare networks, it can raise potential conflicts of interest ... If a hospital is using employees' money to pay above-market prices or the plan is designed to push employees into networks that benefit the hospital, you have some real ERISA problems there. You need to know that these duties do exist, and there are penalties involved if you are not able to establish that you have acted in the best interest of the participants."

The full article, "Fraud Case Highlights Hazards for Hospitals with Insurance Plans," was published by Modern Healthcare on September 10, 2015 and is available online.


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