Pomerantz LLP is investigating claims on behalf of investors of USA Technologies, Inc. ("USA Technologies" or the "Company").
The investigation concerns whether USA Technologies and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 11, 2018, USA Technologies disclosed that it was unable to timely file its annual report on Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended June 30, 2018, stating that it was "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."
On this news, USA Technologies' stock price fell $5.74 per share, or 39.87%, to close at $9.20 on September 11, 2018.