Securities Fraud Investigation: Pegasystems, Inc.
PEGASYSTEMS, INC. Company News: Berger Montague Investigates Securities Fraud Allegations Against Pegasystems, Inc. (NASDAQ: PEGA); Lead Plaintiff Deadline is July 18, 2022
PHILADELPHIA, May 25, 2022 – Berger Montague is investigating securities fraud allegations on behalf of investors who purchased the securities Pegasystems, Inc. (“Pegasystems” or the “Company”) (NASDAQ: PEGA) between May 29, 2020 and May 9, 2022 (the “Class Period”).
If you purchased the securities of Pegasystems during the Class Period, would like to discuss Berger Montague’s investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at [email protected] or (215) 875-3015, or Michael Dell’Angelo at [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/pegasystems-inc/
According to the complaint, Pegasystems failed to disclose to investors that it had engaged in corporate espionage and misappropriation of trade secrets to better compete against Appian Corp. and that it had engaged in a scheme to steal Appian trade secrets.
The truth regarding the Company’s fraudulent conduct was revealed on May 9, 2022, when Pegasystems announced that a jury had awarded Appian – which had sued the Company for stealing trade secrets – more than $2 billion. In response to this news, Pegasystems’ stock price fell 21%, from a closing price of $65.93 per share on May 9, 2022, to a closing price of $52.25 on May 10, 2022.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.