A New Jersey-based law firm, McInerney and Schmidt is alleging that a records management company, Iron Mountain Information Management, is holding its files hostage. The McInerney firm contends that after terminating its relationship with Iron Mountain, the latter imposed a charge of approximately $25,000 for the return of its files, a move which the law firm describes as tantamount to holding its assets for “ransom”.
As reported in the New Jersey Law Journal, the suit was triggered by what McInerney and Schmidt saw as a “significant escalation” in Iron Mountain’s pricing practices.
Worth noting is that McInerney and Schmidt is not the only firm that has taken exception with Iron Mountain’s pricing structure. This points to a broader concern and potential trend within the records management service industry, where inflated pricing can lead to legal conflict, impacting both service providers and their corporate clients.