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Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against USA Technologies, Inc.Glancy Prongay & Murray LLP ("GPM") 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 (News - Alert), 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. If you are a shareholder who suffered a loss, click here to participate. 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 was conducting an internal investigation related to cetain 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, the 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. Follow us for updates on Twitter (News - Alert): twitter.com/GPM_LLP. If you purchased shares of USAT, you may move the Court no later than November 13, 2018 to ask the Court to appoint you as lead plaintiff. 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181024006066/en/ |
