USA Technologies CEO suspended amid probe into Internet posts

Tom Paine

Malvern-based USA Technologies, a provider of cashless payment solutions for vending machines, said yesterday in a filing with the SEC that chairman and CEO George Jensen had been suspended pending a probe into internet posts he had made, the nature of which have not yet been specified.

The company says it expects Jensen will resign his positions as chairman, CEO and board member "in the near future". Chief Operating Officer Stephen Herbert is serving as interim CEO.

Jensen has served as CEO of USA Technologies since 1992. The company says whatever it was he did will not impact its historical financial results.

USA Technologies (NASDAQ: USAT) shares are down 15.5% to $1.20 so far today.

More as it develops.



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Daily Links 10/13/2011: TruePosition says standards manipulated by competition

What We Are Seeing (A VC)

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Liberty Media Unit (Berwyn-based TruePosition) Says Standards Manipulated By Competitors (Forbes)

First Azure-hosted Microsoft ERP service due in Fall 2012 (ZDNet Blogs)
Thats a year from now.

Dell Puts Recent Acquisitions to Work (PC World)

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The Philly-based company recently received funding from an investment firm connected to the US Intelligence community.

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Deal With Time Warner Brings the CW to Netflix (New York Times: Media Decoder)




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