Executives at software company Pegasystems Inc. engaged in a corporate espionage scheme to steal confidential information from competitor Appian Corp. and hid the company’s legal troubles from investors, according to a shareholder lawsuit filed Friday.
Company leaders “engaged in a systematic, willful, and malicious scheme to misappropriate and profit from Appian’s trade secrets and confidential information in violation of Virginia law,” according to the lawsuit brought by shareholders in Massachusetts Superior Court, Suffolk County. Executives then “concealed the illegal scheme from stockholders for many years,” and hid a 2020 lawsuit that was filed by Appian, the complaint alleges.
The complaint ...
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