Appian's $2 bln verdict against Pegasystems overturned by appeals court

Pegasystems

30/07/2024 17:27

By Blake Brittain
       July 30 (Reuters) - Software company Pegasystems
 PEGA.O  convinced a Virginia appeals court on Tuesday to throw
out a $2 billion jury verdict for rival Appian  APPN.O  in a
court battle over Pegasystems' alleged theft of Appian's trade
secrets.
    The award from 2022 had been the largest damages verdict in
Virginia court history, the Court of Appeals of Virginia said in
the decision.
    McLean, Virginia-based Appian had said in a 2020 lawsuit
that Pegasystems hired a contractor to steal confidential
information from Appian's platform in order to improve its own
products and better train its sales force.
    “We are extremely pleased by today’s decision throwing out
an award we believe was never rational," a Pegasystems
spokesperson said in a statement. 
    A spokesperson for Appian did not immediately respond to a
request for comment.

 (Reporting by Blake Brittain in Washington)
 ((blake.brittain@tr.com; +1 (202) 938-5713;))