USA Technologies Inc (NASDAQ:USAT) shares fell in the double-digits Tuesday after the payment-technology company announced an internal investigation into its accounting would delay its 10-K filing.
Shares of the Pennsylvania-based company sank more than 30% to US$10.52 in morning trading.
The board of directors’ audit committee is conducting an internal investigation into the company’s accounting practices and other financial reports.
“The company will not be in a position to file its Form 10-K until the Audit Committee completes its investigation and the company and its independent auditor assess the results of that investigation,” said the company in a press release.
The tech company will file a Form 12b-25 with the US Securities and…
