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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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Labor Talk Blog: Executive Actions Aimed at Equal Pay for Women

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April 23, 2014

On Tuesday April 8, 2014, what is now known as National Equal Pay Day, President Obama took two executive actions aimed at narrowing the wage gap between men and women.

Noting that women are the primary breadwinners in 40% of U.S. Households, while bringing home 23% less than their male counterparts, the President signed a Presidential Memorandum which instructs the Secretary of Labor to propose regulations, within 120 days of the Memorandum, requiring federal contractors to submit summary data on employee compensation paid to their employees, including data by sex and race, to the Department of Labor. Those regulations would then require the Department of Labor to use that data in a way that would encourage an employers' voluntary compliance with current equal pay laws, effectively focusing the Department's efforts toward reducing discrepancies.

The President also signed an Executive Order prohibiting federal contractors from retaliating against employees who choose to discuss their compensation among their co-workers. This Executive Order amended Executive Order II246 of September 24, 1965 with the goal of encouraging pay transparency between male and female employees so that workers have the ability to discover violations of equal pay laws and are able to seek appropriate remedies for those violations. However, the Executive Order does not require employers to publish wage rates or compel workers to discuss pay. Under this Executive Order, the Secretary of Labor has 160 days to propose regulations in conformance with the President's directive.

These actions come ahead of the U.S. Senate's consideration of the Paycheck Fairness Act, which would amend equal pay laws by barring all employers, not just federal contractors, from punishing employees who discuss their wages. The President has pushed for Congress to pass this Act to ensure the standards he set forth in the Executive Order are applied to all employers covered by the Fair Labor Standards Act.

Stay tuned for updates on the Secretary of Labor's proposed regulations and the progression of the Paycheck Fairness Act, both of which could have significant impacts on employee's rights with respect to transparency of their employer's pay practices.

For more Labor and Employment information, visit www.BassBerryLaborTalk.com.


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