Appian's $2 bln verdict against Pegasystems overturned by appeals court
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Appian's $2 bln verdict against Pegasystems overturned by appeals court
(Reuters) - Software company Pegasystems (PEGA.O), opens new tab convinced a Virginia appeals court on Tuesday to throw out a $2 billion jury verdict for rival Appian (APPN.O), opens new tab 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.
