This should be something you could handle yourself, if you have the right tools. Unless you are entirely uncomfortable with the idea of doing this yourself, your first step should be getting the right bits, particularly the one for the pivot. Looks like a hex bit to me.
Once you have the right tool, just loosen the pivot slightly. By slightly, I mean as small an amount as you can turn it. If the pivot is free-spinning, you will need two bits (one to hold the female end in place, and the other to turn the male end counterclockwise). Flip the knife and if it is still tight, loosen a little more. Take your time. Once it flips like you like it, or you get blade play (wiggle in the blade when open), stop. If you get play, you know it is not a pivot tightness issue.
It that process does not resolve the issue, you can try to clean and lubricate the bearings. Just clean things up with some rubbing alcohol. Apply KPL or similar lubricant to the bearings and reassemble (use the correct torx/hex bits for the body screws). Take your time. Retighten the pivot all the way. If it is still tight, back off the pivot per the last paragraph. Side note: if you get lubricant on the lock face, it may create "stick." This is entirely fixable with a alcohol wipedown, but just be careful.
If neither of these procedures solves the problem. Stop. At that point the knife should be sent to Medford.
If you do solve the problem, don't worry about Loctite right away. If the pivot loosens further with use, you can unscrew the male end all the way, and apply a small amount of blue (NOT RED) loctite to the pivot screws. Reinsert the screw and tighten to the desired tension, then leave the knife alone for at least 24 hours. Not all knives need this, so I typically do not apply it unless the pivot is backing out with use.
If returning to the retailer is an option, you need to make that choice before you start.
