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Deadline Alert: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against  USA Technologies, Inc.

2018-10-23 17:13 ET - News Release


BENSALEM, Pa. -- (Business Wire)

Law Offices of Howard G. Smith reminds investors of the November 13, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased USA Technologies, Inc. (“USAT” or the “Company”) (NASDAQ: USAT) securities between November 9, 2017 and September 11, 2018, inclusive (the “Class Period”). USAT investors have until November 13, 2018 to file a lead plaintiff motion.

Investors suffering losses on their USAT investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On September 11, 2018, USAT announced that it would not file its Annual Report for the fiscal year ended June 30, 2018 by the September 13, 2018 deadline. The Company further stated that its Audit Committee is conducting an internal investigation related to certain of the Company’s contractual arrangements, including the accounting treatment, financial reporting, and internal controls related to the arrangements. On this news, the Company’s share price fell $6.10 per share, or nearly 40%, to close on September 11, 2018 at $9.20 per share.

According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) 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; (2) consequently, USA Technologies’ internal controls over financial reporting were weak and deficient; (3) 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.

If you purchased shares of USAT during the Class Period you may move the Court no later than November 13, 2018 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Source: Law Offices of Howard G. Smith

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