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USA TECHNOLOGIES ALERT: Bragar Eagel & Squire, P.C. is Investigating USA Technologies, Inc. on Behalf of Stockholders and Encourages Investors to Contact the Firm

November 8, 2019 GMT

NEW YORK--(BUSINESS WIRE)--Nov 8, 2019--

Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against USA Technologies, Inc. (OTHER OTC: USAT) on behalf of USA Technologies stockholders. Our investigation concerns whether Peloton has violated the federal securities laws and/or engaged in other unlawful business practices.

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On October 9, 2019, USA Technologies filed a Form 8-K with the U.S. Securities and Exchange Commission 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.

USA Technologies further advised investors that the Company’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.”

On this news, USA Technologies’ stock price fell $1.06 per share, or 14.7%, to close at $6.14 per share on October 10, 2019.

If you purchased or otherwise acquired USA Technologies shares and suffered a loss, have information, 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 Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191108005625/en/

CONTACT: Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

(212) 355-4648





SOURCE: Bragar Eagel & Squire, P.C.

Copyright Business Wire 2019.

PUB: 11/08/2019 03:59 PM/DISC: 11/08/2019 03:59 PM