PHILADELPHIA, May 26, 2022 /PRNewswire/ -- 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 firstname.lastname@example.org or (215) 875-3015, or Michael Dell'Angelo at email@example.com or (215) 875-3080 or visit: https://investigations.bergermontague.com/pegasystems-inc/
Whistleblowers: Anyone with non-public information regarding Pegasystems is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
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.
Andrew Abramowitz, Senior Counsel
Michael Dell'Angelo, Executive Shareholder
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