USA Technologies, Inc. (USAT) Unable to Timely File Its Form 10-K with the SEC

According to the complaint, USA Technologies, Inc. (USAT) repeatedly assured investors regarding the accuracy of its financial reporting. It was therefore surprising to investors, when, on September 11, 2018, USA Technologies disclosed that it was unable to timely file its Form 10-K with the Securities and Exchange Commission for fiscal year ended June 30, 2018, because 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, investors sold off shares of their USA Technologies stock, causing it to fall more than 33% on September 11, 2018.

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