BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of USA Technologies Inc. ("USA Technologies" or the "Company") (Nasdaq: USAT) concerning the Company’s and its officers’ possible violations of federal securities laws in connection with the Company’s recent disclosure that it lacked adequate controls over financial reporting.
On September 29, 2015, after the market closed, the Company disclosed that it was delaying its annual 10-K financial filing because “management identified deficiencies in both the design and operating effectiveness of the Company’s internal control over financial reporting, which when aggregated represent a material weakness in internal control.”
On this news, the Company’s stock fell $0.23, or over 8%, to close at $2.49 on September 30, 2015, thereby damaging investors.
If you purchased USA Technologies securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by e-mail to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
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