Hagens Berman Alerts Investors in USA Technologies (USAT) to the Firm's Investigation of Possible Improper Accounting and Disclosure Violations
SAN FRANCISCO, Sept. 11, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in USA Technologies, Inc. (NASDAQ: USAT) to the firm's investigation into possible improper accounting and disclosure violations. If you purchased or otherwise acquired USA Technologies securities before September 11, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/USAT
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
On September 11, 2018, USA Technologies and management announced they would not timely file the Company's annual report on Form 10-K for the fiscal year ended June 30, 2018.
More specifically, they explained: "The Audit Committee of the Company's Board of Directors, with the assistance of independent legal and forensic accounting advisors, is 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."
This news drove the price of USA Technologies shares down as much as $5.74, or over 37%, during intraday trading on September 11, 2018.
"We're focused on investors' losses and on whether revenues and other of the Company's accounts were historically misstated," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding USA Technologies should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article