Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in USA Technologies (NASDAQGM:USAT) in connection to alleged violations of securities laws by USAT. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in USA Technologies between November 9, 2017 and September 11, 2018.
The class action complaint specifically alleges that during the period in question, USAT might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company handled contract agreements in its financial statements in such a way that would lead to an internal investigation, consequently delaying the filing of its FY2018 annual report; that consequently the company had inadequate internal controls over its financial reporting; and that consequently the company’s statements to the public during the relevant period about its business, operations and prospects were materially false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.
According to the company’s website, USA Technologies is a technology company focusing in “cashless transactions for the self-serve retail market.” According to its description, it provides a “comprehensive suite of services designed to connect” businesses to “more sales, better operating data, and stronger consumer relationships.” Its customers include Canteen, Aramark, AMI Entertainment and Starbucks. The company is headquartered in Malvern, Pennsylvania and trades on the Nasdaq Global Market Composite under the symbol USAT.
A class action lawsuit has already been filed in connection with USA Technologies. If you wish to serve as lead plaintiff in the USAT lawsuit, you must move the Court no later than November 13, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.