09:49 AM EDT, 03/10/2025 (MT Newswires) -- (Updates with company's response in the fifth paragraph and latest stock move in the final paragraph.)

Appian (APPN) said Friday that the Supreme Court of Virginia agreed to hear its petition to reinstate a jury's $2.04 billion judgment against Pegasystems ( PEGA ) for trade secret misappropriation.

The court agreed to review four issues raised in the Court of Appeals decision.

Appian sued Pegasystems ( PEGA ) to protect its intellectual property. A jury found that Pegasystems ( PEGA ) used a "spy" to get trade secrets, benefiting financially from the misappropriation, Appian said.

The Supreme Court also agreed to review Pegasystems' ( PEGA ) cross-appeal on trade secret misappropriation, though lower courts rejected its arguments, Appian said.

"We stand firmly by our position that the overturned verdict in this case was a result of a flawed trial on many fronts, including that we were prevented from showing that our software never adopted any of Appian's supposed trade secrets," a Pegasystems ( PEGA ) spokesperson said in an emailed statement to MT Newswires. "The Appellate Court's 60-page decision was unanimous, and we believe Appian will have to overcome numerous, thorough, and well-reasoned grounds to overturn the appeals court decision."

Shares of Appian were 3% lower in recent Monday trading, and Pegasystems ( PEGA ) shares were down 4.2%.

Price: 30.91, Change: -0.95, Percent Change: -2.97