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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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Law360 Reports on Vanderbilt Victory at Sixth Circuit in WARN Act Employment Class Action Case

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January 7, 2016

In an article published on January 5, 2016, Law360 summarized the details of the employment class action case, Morton v. Vanderbilt. Bass, Berry & Sims attorneys Bill Ozier, Michael Moschel, Stephanie Roth and Dustin Carlton represented Vanderbilt in the lawsuit. The case presented an issue of first impression in the Circuit as to when an employment termination occurs under the WARN Act. 

In this case, a group of former employees filed the lawsuit alleging that Vanderbilt had violated the Worker Adjustment and Retraining Notification (WARN) Act for failing to provide 60 days' advance notice of their layoffs. The U.S. District Court for the Middle District of Tennessee found in favor of the former employees. However, the Sixth Circuit overturned the district court decision on the grounds that as long as employees continued to receive full wages and accrue benefits while on a paid leave, there is no employment termination until after the employer ceases the pay and benefits. 

The full article, "WARN Notice Is Not End of Employment, 6th Circ. Says," was published by Law360 on January 5, 2016 and is available online.


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