| 2016-10-11 15:50:42|
USAT 15:50 10/11 10/11/16
USA Technologies holder Legion Partners reports 9.94% stake, to hold talks
Legion Partners reported a 9.94% stake in USA Technologies, stating in its filing that it has become "increasingly concerned" with the company's lack of profitability and had a call with Chairman and CEO Stephen Herbert to discuss the company's financial results and communicate their views and concerns regarding a "myriad of issues, including the Issuer's strategic direction, sizable cash balances and potential means to return value to stockholders." Legion also conveyed their belief that the company should immediately evaluate all strategic alternatives to maximize value for all stockholders, including a possible sale, and intend to engage in discussions with the company's management, the Board, stockholders and other interested parties regarding the company's lack of profitability, strategic plans and other means to enhance stockholder value.