April 13, 2016 - The court granted the defendants' motion to dismiss.

January 19, 2016 - An amended complaint was filed.

October 05, 2015 (Shareholders Foundation) - An investor in shares of USA Technologies, Inc. (NASDAQ:USAT) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by USA Technologies, Inc. in connection with certain allegedly false and misleading statements made between September 29, 2014 and September 29, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of USA Technologies, Inc. (NASDAQ:USAT) common shares between September 29, 2014 and September 29, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 29, 2014 and September 29, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that there were significant deficiencies in both the design and operating effectiveness of the company’s internal control over financial reporting, that the deficiencies, when aggregated, represented a material weakness in internal control, that as a result of these deficiencies, the Company’s procedures failed to identify a large number of uncollectible small balance accounts, and that as a result of the foregoing, USA Technologies’ public statements were materially false and misleading at all relevant times.

USA Technologies, Inc. (NASDAQ:USAT) grew from $1.55 per share in December 2014 to as high as $3.48 per share in July 2015.

On August31, 2015, USA Technologies, Inc. scheduled its fourth quarter and fiscal year 2015 earnings release and conference Call on September 10, 2015.

On September 10, 2015, USA Technologies announced its fourth quarter and Fiscal Year 2015 results. USA Technologies, Inc. reported that its Total Revenue rose from $42.34 million for the 12 months period that ended on June 30, 2014 to $58.08 million for the 12 months period that ended on June 30, 2015 while its Net Income of $27.53 million for the 12 months period that ended on June 30, 2014 turned into a Net Loss of $0.82 million for the 12 months period that ended on June 30, 2015.

Then on September 29, 2015, USA Technologies, Inc. filed for an extension because the company determined that it was not able to file its Annual Report on Form 10-K for the fiscal year ended June 30, 2015 within the prescribed time period without unreasonable effort or expense.

On September 30, 2015, USA Technologies, Inc. commented on the extension request of Form 10-K.

Shares of USA Technologies, Inc. (NASDAQ:USAT) declined to as low as $2.33 per share on October 1, 2015.