PEGA SECURITIES FRAUD: Hagens Berman, National Trial Attorneys, Encourages Pegasystems Inc. (PEGA) Investors with Over $100k Losses to Contact Firm's Attorneys, Securities Fraud Class Action Filed Regarding $2B Jury Verdict Against Pegasystems

SAN FRANCISCO, May 26, 2022

Class Period: May 29, 2020 – May 9, 2022
Lead Plaintiff Deadline: July 18, 2022
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Pegasystems Inc. (PEGA) Securities Fraud Class Action:

The litigation focuses on Pegasystems' repeated statements that the Company operated in an extremely competitive market, that it maintained a written Code of Conduct applicable to all its employees (including its CEO) committing them never to steal competitors' trade secrets, and its failure to disclose the true drivers for its financial performance.

Specifically, the complaint alleges that Defendants misrepresented and concealed that: (1) Pegasystems engaged in corporate espionage and misappropriation of trade secrets to better compete against Appian; (2) Defendants' product development and associated success was, in significant part, not the result of its own research and product testing but rather the result of corporate espionage and trade secret theft; (3) Defendants engaged in a scheme to steal Appian trade secrets, which was not only known to, but carried out with the personal involvement of Pegasystems' CEO; (4) Pegasystems' CEO and other officers violated the company's Code of Conduct; and, (5) Pegasystems was "unable to reasonably estimate damages" in the Appian litigation. 

Investors learned the truth after the market closed on May 9, 2022, when Pegasystems announced that the jury in the Appian litigation rendered a verdict against Pegasystems and awarded Appian over $2 billion in damages.