Cantaloupe settles SEC legacy revenue probe with $1.5M penalty

CANTALOUPE, INC.

Final settlement with SEC over USA Technologies' revenue recognition practices in FY2017-2018.
Agreed to cease-and-desist and $1.5M civil penalty; neither admits nor denies findings.
Company had fully reserved the $1.5M penalty as of its last fiscal quarter.
Received $2.0M insurance reimbursement for legal fees related to the investigation.
None of Cantaloupe's current officers were employed during the period covered by the SEC order.

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