USA Technologies, Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor Investigate Possible Breaches of...
November 17 2015 - 2:11PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor LLP announce that a
federal class action lawsuit has been filed in the United States
District Court, Eastern District of Pennsylvania against USA
Technologies, Inc. (“USA Technologies”) (NasdaqGM: USAT) and
several officers and directors for acts taken during the period of
September 29, 2014 through September 29, 2015 (the “Class
Period”).
If you are an affected USA Technologies shareholder and want to
learn more about the lawsuit or join the action, contact Willie
Briscoe at The Briscoe Law Firm, PLLC via email at
shareholders@thebriscoelawfirm.com, Patrick Powers at Powers Taylor
LLP via email at shareholder@powerstaylor.com, or call toll free at
(877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have
violated certain provisions of the Securities Exchange Act of 1934.
Specifically, the complaint alleges, among other things, that
defendants failed to disclose significant deficiencies in both the
design and operating effectiveness of its internal control over
financial reporting. The deficiencies, when aggregated, represented
a material weakness in internal control and caused USA
Technologies’ procedures to fail to identify a large number of
uncollectible small balance accounts. As a result of the foregoing,
the Company’s public statements were materially false and
misleading at all relevant times. USA Technologies filed a
Notification of Late Filing post market with the SEC on September
29, 2015 announcing that it was unable to file its annual report
for the fiscal year ended June 30, 2015. USA Technologies stock
dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151117006805/en/
The Briscoe Law Firm, PLLCWillie Briscoe,
877-728-9607shareholders@thebriscoelawfirm.comorPowers Taylor
LLPPatrick Powers, 877-728-9607shareholder@powerstaylor.com
USA Technologies (NASDAQ:USAT)
Historical Stock Chart
From Jun 2024 to Jul 2024
USA Technologies (NASDAQ:USAT)
Historical Stock Chart
From Jul 2023 to Jul 2024