USA Technologies Rejects Effort by Hudson Executive Capital to Take Over Board

USA TECHNOLOGIES (USAT)
Last usa technologies earnings: 2/18 07:30 pm
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Source: Business Wire
Self-styled “Constructive Engagement” activist threatens litigation and proxy fight MALVERN, Pa.--(BUSINESS WIRE)--USA Technologies, Inc. (OTC: USAT) (“USAT” or the “Company”), a cashless payments and software services company that provides end-to-end technology solutions for the self-service retail market, today issued the following statement in response to a letter issued today by Hudson Executive Capital LP (“Hudson”) and Hudson's founder and Managing Partner Douglas L. Braunstein:Under the banner of “Constructive Engagement,” Mr. Braunstein describes Hudson on its website as a firm seeking “to preserve and drive shareholder value in a cooperative manner, formally forgoing the right to conduct hostile proxy fights and public media tactics.” This appears to be nothing but a sound-bite used by Mr. Braunstein to attract investors and “CEO partners,” and disguise the true nature of his tactics.USA Technologies’ Board of Directors and management team have been engaged in extensive, c
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