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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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Privacy Perils: Holiday Cybersecurity Warning

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December 4, 2015

In a November 30, 2015, press release, updated on December 3, 2015, in an online posting of Frequently Asked Questions VTech, a maker of digital, internet-connected toys, announced an unauthorized party accessed its Learning Lodge app store database. VTech disclosed that more than 5 million of its customer (parent) accounts, and 6 million related kid profiles were affected. Of that number, more than 2 million parent accounts, and approximately 2.9 million kid profiles, are associated with its United States customers.

VTech said none of its customers' credit card data was stored or accessed. However, VTech advised that its compromised customer database included parent names, email addresses, passwords, and secret question answers, and children's names, gender and birthdates. VTech confirmed that the breach extended to its Kid Connect service, which allows parents using a smartphone app to chat with their kids using a VTech tablet. However, because its investigation is ongoing, VTech cannot confirm at this stage whether photos and chats of children and their parents have been taken.

According to one data security professional, by linking the compromised data the hacker(s) may be able to identify the name, age and address of thousands of children.

The VTech data breach is a reminder that any information you provide online is at risk. As you make holiday purchases, especially toys for your children or children of others, be especially mindful of the personal information you disclose when setting up an account, registering a product, etc.

Privacy Perils imageCheck out our series, Privacy Perils, to learn what steps you can take to guard your personal and company data. For more information about this topic and other cyber security concerns, please contact Bob Brewer, Tony McFarland, Elizabeth Warren or a member of our Privacy & Data Security team.

 


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