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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: The Multi-Factor Authentication Process

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December 11, 2015

No matter how strong an online password may be, cybercriminals unfortunately devise methods to obtain passwords, sometimes using technical devices called keyloggers. Given the vulnerability of passwords, an increasing number of businesses and online platforms are requiring additional forms of authentication to gain access to networks or personal data. This approach, called multi-factor authentication, adds another layer of protection against data breach and acts as a safety net when a password is compromised.

How does multi-factor authentication work? It involves multiple methods of identifying data, which typically fit into the following categories:

  • What you know, i.e., a password, PIN number, security question or recognition of a familiar photo
  • What you have, i.e., a USB drive, smart card or portable token featuring a rotating code for the holder to input in the computer
  • Who you are, i.e., biometric identification such as fingerscanning, retina scanning or voice recognition

An authentication process that involves more than one of the above categories is considered multi-factored. On the other hand, a combination of more than one verification method within a given category (i.e., a password plus a security question), while it may involve multiple steps, still qualifies as single-factored authentication and is generally less secure than a multi-factored authentication process.

Beyond the use of strong passwords, a multi-factor authentication provides increased data security.

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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