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MEI DIVERSIFIED AND MEI SALONS START LAWSUIT AGAINST REGIS CORPORATION

MEI DIVERSIFIED AND MEI SALONS START LAWSUIT AGAINST REGIS CORPORATION
 MINNEAPOLIS, May 1 /PRNewswire/ -- MEI Diversified Inc. and MEI Salons, its professional hair and beauty salons subsidiary, have started a lawsuit against Regis Corporation, another Minneapolis-based company, and Regis executives and related companies. MEI and MEI Salons claim that Regis and the other defendants are guilty of fraud, racketeering, contract violations and mismanagement in the sale and later operation of the Glemby, Essanelle and Maxim's salon companies. Regis sold Essanelle and Maxim's to MEI in 1990, and MEI claims that Regis and the other defendants misrepresented their financial condition and prospects, as well as those of Glemby. The suit asks that the Essanelle and Maxim's sales be set aside and for "reasonable damages in excess of $50,000" on each of the other claims. Last year in a similar case that is still pending, MEI sued the families from whom it bought Glemby.
 Until last month, Regis had been managing MEI's salons. Regis was replaced by a new management team headed by Gary Hollister, former president of Merle Norman Cosmetics. The company also relocated its offices and warehouse operations.
 -0- 5/1/92
 /CONTACT: James A. Cesario of MEI Diversified, 612-339-8853/ CO: MEI Diversified ST: Minnesota IN: SU:


MA -- MN014 -- 5662 05/01/92 17:27 EDT
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Publication:PR Newswire
Date:May 1, 1992
Words:217
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