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Pegasystems Gets New Trial in Virginia in Trade Secrets Case Against Appian
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Pegasystems Gets New Trial in Virginia in Trade Secrets Case Against Appian
Jul 30, 2024 11:58 AM

02:43 PM EDT, 07/30/2024 (MT Newswires) -- Pegasystems ( PEGA ) has been granted a new trial in Virginia in a trade secrets case against Appian (APPN), a court document Tuesday showed.

A Virginia court of appeals' decision reversed a previous judgment and called for a new trial concerning the Virginia Uniform Trade Secrets Act claims, according to the document.

The $2 billion lawsuit centered around allegations that Pegasystems ( PEGA ) used "improper means" to access Appian's trade secrets, as per the document.

"This ruling supports our view that the verdict was a result of a flawed trial on many fronts, including that we were prevented from showing that our software never adopted any Appian supposed trade secrets," Pegasystems ( PEGA ) told MT Newswires.

Appian did not immediately respond to a request for comment by MT Newswires.

Pegasystems ( PEGA ) shares were up 5% in recent trading, while Appian shares were down 2%.

Price: 69.19, Change: +3.26, Percent Change: +4.94

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