Defendant Name:
Cantaloupe, Inc. (Formerly d/b/a USA Technologies, Inc.)
Defendant Type:
Public Company
Document Reference:
33-11202-s
Document Details
Legal Case Name
In the Matter of Cantaloupe, Inc. (formerly d/b/a USA Technologies, Inc.)
Document Name
SEC Charges Cantaloupe, Inc. with Accounting Fraud Violations for Fiscal Years 2017 and 2018
Document Date
05-Jun-2023
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On June 5, 2023, the SEC "announced settled charges against a Malvern,PA-based publicly-traded company, Cantaloupe, Inc. (f/k/a USA Technologies, Inc.) ("USAT") arising out of improper revenue recognition practices beginning in the fourth quarter of Fiscal Year 2017 through the third quarter of Fiscal Year 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
Monetary Penalties:
Civil Penalty
Individual:
$1,500,000.00
Shared:
