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USA TECHNOLOGIES, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey against USA Technologies, Inc.

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Lead Plaintiff Deadline is November 13, 2018     

NEW YORK, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities fraud class action lawsuit has been filed in the United States District Court for the District of New Jersey against USA Technologies, Inc. (NASDAQ:USAT) ("USA Technologies") on behalf of purchasers of USA Technologies publicly traded securities between November 9, 2017 through September 11, 2018, inclusive (the "Class Period").

Investors who have incurred losses in the shares of USA Technologies, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of USA Technologies, Inc., you may, no later than November 13, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of USA Technologies, Inc.

The filed complaint alleges that throughout the Class Period, 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;
     
  • consequently, USA Technologies' internal controls over financial reporting were weak and deficient; and
     
  • as a result, the 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 disclosed that it was unable to timely file its Form 10-K with the United States Securities and Exchange Commission (SEC) for the fiscal year ended June 30, 2018 as it was "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."

Following this news, shares of USA Technologies fell $5.74 per share, or over 37%, during intraday trading on September 11, 2018.

Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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