At a Glance

• In 2022, the trade secret case Appian v. Pegasystem made headlines when a jury awarded software company Appian more than $2 billion in damages for its competitor Pega’s willful and malicious misappropriation of its trade secrets.
• In July 2023, the court in the securities fraud case City of Fort Lauderdale Police & Firefighters’ Retirement Systems v. Pegasystems found that Pega’s statement in SEC filings that the Appian claims were “without merit” was an actionable statement of opinion, and allowed claims against Pega and its CEO to proceed.
• In addition, Pega’s SEC filings referred to a code of conduct in which it promised it would “never use illegal or questionable means to acquire a competitor’s trade secrets.” The court characterized this as a false promise, and held that it also was an actionable misrepresentation.

The Trade Secret Litigation: Appian v. Pegasystem

The trade secret case Appian v. Pegasystem made headlines in 2022 when a jury awarded software company Appian more than $2 billion in damages for its competitor Pega’s willful and malicious misappropriation of its trade secrets. Appian Corp. v. Pegasystem Inc., et al., Civ. No. 2020-07-216 (Circuit Court of Fairfax County, Virginia). Among other misconduct, Pega hired a contractor to obtain and share Appian’s confidential information and had its employees — whom it called “spies” — create fake companies to pose as Appian customers.

A Virginia jury awarded Appian over $2 billion in damages...

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