Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of USA Technologies Inc (NASDAQ: USAT) violated securities laws in connection with certain financial statements.

The investigation seeks to discover if possible claims on behalf of purchasers of the securities of USA Technologies Inc (NASDAQ: USAT) concerning whether a series of statements by USA Technologies Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On October 9, 2019, the Company filed a Form 8-K with the SEC advising investors that the Company’s financial statements for the fiscal years ended June 30, 2015 and June 30, 2016, and for the fiscal quarters and year-to-date ended September 30, 2016, December 31, 2016, and March 31, 2017, should no longer be relied upon.  Furthermore, the Company advised investors that the it’s annual report for fiscal year 2019 contained restated financial data for the foregoing periods.  The Company cited “significant financial reporting issues” that “resulted in further adjustments to the Company’s previously issued or prior years’ unissued financial statements, and related to revenue recognition, deferred income tax accounting, sales tax reserves, reserves for bad debts, inventory reserves, sale-leaseback accounting, balance sheet classification of preferred stock, and other matters.”

Following this news, NASDAQ: USAT fell roughly 14 % on October 10, 2019, thereby injuring investors.

Based in Malvern, Pennsylvania, and founded in 1992 USA Technologies Inc provides wireless networking, cashless transactions, asset monitoring, and other value-added services.

If you purchased shares of USA Technologies Inc (NASDAQ: USAT) on or before October 9, 2019, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.

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