Defendant Name:
Cantaloupe, Inc. (Formerly d/b/a USA Technologies, Inc.)
Defendant Type:
Public Company
SIC Code:
7389
CUSIP:
13810310
Document Reference:
33-11202
Document Details
Legal Case Name
In the Matter of Cantaloupe, Inc. (formerly d/b/a USA Technologies, Inc.)
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
05-Jun-2023
Document Format
Administrative Proceeding
AAER
4417
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On June 5, 2023, the SEC instituted a cease-and-desist proceeding against Cantaloupe, Inc., stating: "This matter concerns improper revenue recognition by USA Technologies, Inc., a Malvern, Pennsylvania-based manufacturer and distributor of cashless payment devices beginning in the fourth quarter of fiscal year (“FY”) 2017 and continuing through the third quarter of FY 2018. As a result, USAT filed with the Commission materially misstated financial statements in its annual, quarterly, and current reports filed with the Commission during the period."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Civil Penalty
Individual:
$1,500,000.00
Shared: