NASDAQ GM
USAT

USA Technologies, Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against USA Technologies, Inc. (NASDAQ GM: USAT)

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities that purchased the common stock of USA Technologies, Inc. (“USA Technologies” or the “Company”) (NASDAQ GM: USAT) between September 29, 2014 and September 29, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of USA Technologies during the Class Period, or purchased shares prior to the Class Period and still hold USA Technologies, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on September 29, 2015, the Company filed a Notification of Late Filing on Form 12b-25 with the SEC announcing that it was unable to file its annual report for the fiscal year ended June 30, 2015 on Form 10-K.  According to the filing, “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, shares in USA Technologies dropped over 10%, closing at $2.49 per share on September 30, 2015, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than December 1, 2015.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

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