A lawsuit was filed on behalf of ishareholders in USA Technologies, Inc. (NASDAQ:USAT) shares over alleged securities laws violations and NASDAQ:USAT investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/26/2015 -- A shareholder, who purchased NASDAQ:USAT shares, filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged Securities Laws violations of by USA Technologies, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of USA Technologies, Inc. (NASDAQ:USAT) have certain options and for certain investors are short and strict deadlines running. Deadline: December 1, 2015. NASDAQ:USAT investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The plaintiff alleges on behalf of purchasers of USA Technologies, Inc. (NASDAQ:USAT) common shares between September 29, 2014 and September 29, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 29, 2014 and September 29, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that there were significant deficiencies in both the design and operating effectiveness of the company's internal control over financial reporting, that the deficiencies, when aggregated, represented a material weakness in internal control, that as a result of these deficiencies, the Company's procedures failed to identify a large number of uncollectible small balance accounts, and that as a result of the foregoing, USA Technologies' public statements were materially false and misleading at all relevant times.
On September 29, 2015, USA Technologies, Inc. filed for an extension because the company determined that it was not able to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2015 within the prescribed time period without unreasonable effort or expense.
On September 30, 2015, USA Technologies, Inc. commented on the extension request of Form 10-K.
Shares of USA Technologies, Inc. (NASDAQ:USAT) declined to as low as $2.18 per share on October 2, 2015.
On October 22, 2015, NASDAQ:USAT shares closed at $2.80 per share.
Those who purchased shares of USA Technologies, Inc. have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com