Close X
Attorney Spotlight

What colorful method does Claire Miley use to keep up with the latest healthcare regulations as they relate to proposed transactions? Find out more>

Search

Close X

Experience

Search our Experience

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.

CLARCOR
Close X

Thought Leadership

Enter your search terms in the relevant box(es) below to search for specific Thought Leadership.
To see a recent listing of Thought Leadership, click the blue Search button below.

Thought Leadership Spotlight

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.

Read More >

Tennessee Government Update - Recap of February 14 - 18, 2011

Publications

February 18, 2011

Governor Bill Haslam announced his legislative priorities for 2011 yesterday. He asked the Tennessee General Assembly to reform Tennessee's civil justice system, also known as tort reform; recast Tennessee's K-12 teacher tenure law; open charter schools to more students; and eliminate one of the four members of the Tennessee Regulatory Authority.

The tort reform measure proposes to:

  • cap non-economic damage awards at $750,000 per occurrence
  • cap punitive damage awards at $500,000 per case and
  • categorize all cases arising from the providing of healthcare, including nursing home cases, as medical malpractice cases and, therefore, subject to the special rules of medical malpractice cases, to be known hereafter as "healthcare liability actions."

The proposal also reforms the provisions of Tennessee law relative to appeal bonds and the basis and procedure for awarding punitive damages. The bill would make a product liability lawsuit more difficult against a seller of a product who is not the manufacturer. In addition, the recommendation provides automatic appeals of class action certification or denial of certification by a state trial court and would eliminate punitive damages and class action status in cases brought under the Tennessee Consumer Protection Act. The Tennessee Consumer Protection Act reform also would prohibit bringing a case under that statute involving the marketing of securities. The bill is SB 1522/HB 2008.

The Knoxville News Sentinel reports that the Association for Justice (Tennessee Trial Lawyers) had a somewhat negative reaction to the tort reform proposal.

Tennessee's teachers have had a particularly difficult week politically. In addition to the governor's tenure reform proposals, the Senate Education Committee voted to repeal the statute under which local teacher groups may bargain collectively with local boards of education. 

The governor's tenure reform proposal will result in a five-year initial probationary period rather than the current three-year period and would create a process in which a tenured teacher could revert to probationary status if a teacher did not maintain sufficiently high standards as measured by the new evaluation system adopted in 2010 and embedded in Tennessee's $500 million Race to the Top Award.

Also, in the educational arena, the governor proposed eliminating the cap on the number of charter schools in Tennessee (90, at present) and opening enrollment at charter schools to more students.

As a footnote to the education recommendations, the governor still has not appointed a permanent commissioner of education to lead the reforms he seeks and implementation of the Race to the Top Award. He requested yesterday that the legislature change the statutory credential for the job from "qualified to teach" in Tennessee to "a baccalaureate degree." In other words, an undergraduate degree would still be required but not a Tennessee teaching certificate.

Finally, the Tennessee Regulatory Authority, to which the legislature added a fourth director several years ago, would be reduced to three directors, the historic number for the TRA and its predecessor agency, the Public Service Commission. Two of the four positions are to be re-appointed under the current statute by July 1, 2011. The governor's proposal would eliminate one of the two, that one being an appointment made jointly by the governor and both speakers.


Related Services

Notice

Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.