Pegasystems Inc. (NasdaqGS: PEGA)
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Pegasystems Inc. (NasdaqGS: PEGA).
On May 9, 2022, the Company disclosed that a Virginia state court jury deliberating over a lawsuit brought by one of its principal competitors, Appian Corporation (“Appian”), for stealing its trade secrets and violating the commonwealth’s computer crime law had awarded Appian more than $2 billion for the Company’s “willful and malicious” trade secret misappropriation.
The Company was subsequently sued in a securities class action lawsuit alleging that the Company’s senior executives and employees participated in a conspiracy to misappropriate Appian trade secrets in order to enhance its products and win business over Appian, deceived investors when it promised to “[n]ever use illegal or questionable means to acquire a competitor’s trade secrets or other confidential information,” and encouraged and rewarded the participants with cash bonuses. Recently, the court presiding over that case denied the Company’s motion to dismiss, allowing the case to move forward.
KSF’s investigation is focusing on whether Pegasystems’ officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Pegasystems shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.