NEW YORK, Nov. 02, 2015 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces that a class action lawsuit has been filed on behalf of purchasers of USA Technologies, Inc. (NASDAQ: USAT ) securities during the period from September 29, 2014 through September 29, 2015 inclusive (the “Class Period”). The lawsuit seeks to recover damages for USA Technologies investors under the federal securities laws.
To join the USA Technologies class action, go to the firm’s website at http://www.rosenlegal.com/cases-731.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose that: (1) there were significant deficiencies in both the design and operating effectiveness of USA Technologies’ internal control over financial reporting; (2) the combined deficiencies represented a material weakness in internal control; (3) due to these deficiencies, USA Technologies’ procedures failed to identify a large number of uncollectible small balance accounts; and (4) as a result, USA Technologies’ public statements were materially false and misleading at all relevant times.” On September 29, 2015, USA Technologies revealed it was unable to file its annual report for the fiscal year ended June 30, 2015 on Form 10-K with the SEC. On this news, shares of USA Technologies fell $0.28, or 10.1%, to close at $2.49 on September 30, 2015.
A class action lawsuit has already been filed. 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. If you wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-731.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com .
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com kchan@rosenlegal.com www.rosenlegal.com
