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In addition to Mark Manner's busy corporate legal practice, he has established himself as a respected and avid astronomer. Read more>

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Experience Spotlight

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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Thought Leadership

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Blueprint for an IPO

Companies go public to raise capital to fuel growth, pay down debt and provide liquidity to shareholders. Although all issuers and offerings are different, the basic process of going public remains relatively constant. Blueprint for an IPO identifies the key players, details the process and identifies the obligations companies will face after going public.

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David A. Thornton

Member

Memphis
(901) 543-5922 TEL
(866) 654-7417 FAX

David A. Thornton

Member

Memphis
(901) 543-5922 TEL
(866) 654-7417 FAX
Memphis
(901) 543-5922 TEL
(866) 654-7417 FAX

David Thornton helps employers deliver retirement, health and welfare benefits to their executives and employees. With more than 30 years of experience, he has developed a diverse practice counseling hundreds of public and private employers and non-profit organizations in drafting, maintaining and administering retirement plans ranging from $1 million to several billion dollars in assets, including many in the $100 million to $500 million asset range. He has deep experience in ESOP transactions, successfully navigating the significant fiduciary duty considerations and tax code requirements involved with these transactions.

David Thornton helps employers deliver retirement, health and welfare benefits to their executives and employees. With more than 30 years of experience, he has developed a diverse practice counseling hundreds of public and private employers and non-profit organizations in drafting, maintaining and administering retirement plans ranging from $1 million to several billion dollars in assets, including many in the $100 million to $500 million asset range. He has deep experience in ESOP transactions, successfully navigating the significant fiduciary duty considerations and tax code requirements involved with these transactions.

In response to heightened focus on ERISA fiduciaries by the U.S. Department of Labor and plaintiffs’ attorneys, David spearheaded an effort to launch a comprehensive fiduciary compliance program for clients. The program includes a self-audit process, fiduciary training, documentation package and service provider RFP support, which has resulted in approximately $6.5 million in administrative fee savings over a two year period for one client.

With a keen ability to help clients reach prudent business decisions while weighting the cost/benefit analysis against various creative alternatives, David’s practice involves:

  • Designing, implementing and administering retirement plans, including pension, profit sharing, 401(k) plans and ESOPs, as well as other non-qualified plan alternatives.
  • Implementing and administering health and welfare plans, including self-funded and fully insured health benefit plans, including compliance with the ACA.
  • Assisting with Health Insurance Portability and Accountability Act (HIPAA) and Consolidated Omnibus Budget Reconciliation Act (COBRA) compliance, cafeteria plans and medical reimbursement plans.
  • Counseling clients with regards to compliance with IRS and Department of Labor laws and regulations applicable to employee benefit plans as the fiduciary responsibilities of employers and trustees of employee benefit plans.
  • Plan design, amendments and compliance advice to municipalities on all forms of qualified and nonqualified benefit plan matters, including state law issues governing benefits under a pension plan, as well as code sections 457 and 409A.

As a former ERISA litigator, David helps companies navigate the intersection of litigation and business concerns. He successfully defended a case, Osborne v. Hartford Life & Accident Ins. Co., that went all the way to the U.S. Supreme Court, and resulted in a change to the interpretation of the word "occupation" under ERISA. The new definition still stands today. His deep understanding of ERISA allows David to provide practical advice in the complex landscape of employee benefits law.

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Memberships

Memphis Bar Association — Treasurer (1992), Director (1991), Young Lawyers Division

Tennessee Bar Association — Corporation and Business Law Section

American Bar Association — Business Law Section

American Health Lawyers Association (AHLA)

News

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Representative Experience

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Publications

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Past Events

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Media Mentions

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Accolades

Best Lawyers in America® — Employee Benefits (ERISA) Law; Litigation: ERISA (2006-2018)

Mid-South Super Lawyers (2006, 2010-2016)

MBQ: Inside Memphis Business "Power Players"

Beta Gamma Sigma

Phi Eta Sigma

Phi Kappa Phi

Phi Alpha Delta

Golden Key

American Jurisprudence Award in Family Law

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