Shares of USA Technologies Inc. USAT, -39.87% plunged 33% to pace all premarket decliners, after the payment technology company said it is conducting an internal investigation into the accounting of certain of its present and past contractual arrangements and financial reporting controls. As a result, the company said it would not file its Form 10-K annual report with the Securities and Exchange Commission by the Sept. 13 deadline. The company said it will file a Form 12b-25 notification of late filing, to provide it with a 15-day extension. The stock had soared 57% year to date through Monday, while the S&P 500 SPX, +0.37% had gained 7.6%.
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