Bloomberg Law
May 10, 2022, 2:02 PM

Appian Soars After Getting Damages From Pegasystems Case (1)

Lara Sanli

(Adds Tuesday trading.)

  • Appian Corp. shares jump as much as 37% after the firm said it received a verdict awarding it $2.036 billion in damages from Pegasystems Inc. for misappropriation of its trade secrets
  • PEGA is down as much as 27% on Tuesday
  • “Appian will never hesitate to defend itself and its intellectual property from competitors where it believes they have acted illegally,” CEO Matthew Calkins said in a statement.
  • Jury verdict was given after a seven-week trial
  • NOTE: Pegasystems Says Jury Awards Appian $2.04b Damages; Will Appeal

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