Pegasystems Investor Opt-Out Case Over IP Row Mostly Advances

Pegasystems Inc. investors who opted out of a $35 million securities class action settlement will see most of their claims proceed against the software company for allegedly hiding legal risks from a trade secrets lawsuit.

A 2025 decision of the Virginia Court of Appeals—reversing a trial court’s more than $2 billion intellectual property judgment against Pegasystems—doesn’t change the viability of the claims, Judge William G. Young said Thursday for the US District Court for the District of Massachusetts. The ruling came on the same day the Virginia Supreme Court affirmed the reversal and new trial in the IP case. ...