Med-Legal Founders Say Firm Reneged on Acquisition Deal

By Greg Jones, Western Bureau ChiefThe founders of a Southern California photocopy service are seeking $15 million in costs and damages from a private equity firm they sold their business to in 2012, saying the firm acted in bad faith by blocking the release of $4.05 million held in escrow.Warren Schneider and his son, Stephen Schneider, agreed to sell their Med-Legal Inc. copy service and ancillary business ventures to Legal Solutions Holdings Inc., a holding company for Harren Equity Partners, in March 2012. Legal Solutions purchased all the assets of Med-Legal and DefensePro, as well as an ...