A lawsuit was filed on behalf of investors in USA Technologies, Inc. (NASDAQ: USAT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/03/2018 -- An investor, who purchased shares of USA Technologies, Inc. (NASDAQ: USAT), filed a lawsuit in the over alleged violations of Federal Securities Laws by USA Technologies, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of USA Technologies, Inc. (NASDAQ: USAT) should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of USA Technologies, Inc. (NASDAQ: USAT) common shares between November 9, 2017 and September 11, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 9, 2017 and September 11, 2018, the defendants made false and/or misleading statements and/or failed to disclose that USA Technologies' treatment of contractual arrangements in its financial statements would result in an internal investigation and delay the filing of its annual report for fiscal year 2018, that consequently, USA Technologies' internal controls over financial reporting were weak and deficient, and that as a result, defendants' statements about USA Technologies' business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 11, 2018, USA Technologies, Inc. and management announced they would not timely file the Company's annual report on Form 10-K for the fiscal year ended June 30, 2018. More specifically, they explained: "The Audit Committee of the Company's Board of Directors, with the assistance of independent legal and forensic accounting advisors, is in the process of conducting an internal investigation of current and prior period matters relating to certain of the Company's contractual arrangements, including the accounting treatment, financial reporting and internal controls related to such arrangements."
Those who purchased shares of USA Technologies, Inc. (NASDAQ: USAT) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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