Market Overview

Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against USA Technologies, Inc.


Geller Rudman & Dowd LLP
today announced that a class action has been commenced on behalf of
purchasers of USA Technologies, Inc. (NASDAQ:USAT) securities during the
period between November 9, 2017 and September 10, 2018 (the "Class
Period"). This action was filed in the District of New Jersey and is
captioned Gray v. USA Technologies, Inc., et al., No. 18-cv-13860.

The Private Securities Litigation Reform Act of 1995 permits any
investor who purchased USA Technologies securities during the Class
Period to seek appointment as lead plaintiff. A lead plaintiff acts on
behalf of all other class members in directing the litigation. The lead
plaintiff can select a law firm of its choice. An investor's ability to
share in any potential future recovery is not dependent upon serving as
lead plaintiff. If you wish to serve as lead plaintiff, you must move
the Court no later than 60 days from September 11, 2018. If you wish to
discuss this action or have any questions concerning this notice or your
rights or interests, please contact plaintiff's counsel, Darren
of Robbins Geller at 800/449-4900 or 619/231-1058, or via
e-mail at You can
view a copy of the complaint as filed at

The complaint charges USA Technologies and certain of its officers with
violations of the Securities Exchange Act of 1934. USA Technologies
provides wireless networking, cashless transactions, asset monitoring,
and other value-added services in the United States and internationally.

The complaint alleges that during the Class Period, defendants issued
materially false and misleading statements regarding the Company's
operations, business and financial results. Specifically, defendants
failed to disclose certain accounting discrepancies that impacted the
Company's current and prior contractual arrangements, including the
Company's internal controls, accounting treatment and financial
reporting related to such contractual arrangements. As a result of
defendants' materially false and misleading statements, USA Technologies
securities traded at artificially inflated prices during the Class
Period, with its stock price reaching a high of $16.45 per share on
August 17, 2018.

On September 11, 2018, before the market opened, USA Technologies issued
a press release and filed a Form 8-K with the SEC announcing that the
Company's annual report on Form 10-K for the fiscal year ended June 30,
2018 would not be filed by the September 13, 2018 due date. The press
release further stated that the Company's Audit Committee, along with
independent legal and forensic accounting advisors, was 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." As a result of this news, the
price of USA Technologies stock dropped $6.10 per share to close at
$9.20 per share on September 11, 2018, a one-day decline of 39%.

Plaintiff seeks to recover damages on behalf of all purchasers of USA
Technologies securities during the Class Period (the "Class"). The
plaintiff is represented by Robbins Geller, which has extensive
experience in prosecuting investor class actions including actions
involving financial fraud.

Robbins Geller is one of the world's leading law firms representing
investors in securities litigation. With 200 lawyers in 10 offices,
Robbins Geller has obtained many of the largest securities class action
recoveries in history. For five consecutive years, ISS Securities Class
Action Services has ranked the Firm in its annual SCAS Top 50 Report as
one of the top law firms in both amount recovered for shareholders and
total number of class action settlements. Robbins Geller attorneys have
helped shape the securities laws and recovered tens of billions of
dollars on behalf of aggrieved victims. Beyond securing financial
recoveries for defrauded investors, Robbins Geller also specializes in
implementing corporate governance reforms, helping to improve the
financial markets for investors worldwide. Please visit
for more information.

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