PEGASYSTEMS, INC. Company News – GuruFocus.com
PHILADELPHIA CREAM, May 26, 2022 /PRNewswire/ — Shepherd Montague is investigating allegations of securities fraud on behalf of investors who purchased Pegasystems, Inc. (“Pegasystems” or the “Company”) (NASDAQ: PEGA) securities between May 29, 2020 and May 9, 2022 (the “Class Period”).
If you purchased the Pegasystems securities during the Class Period, would like to discuss At Berger Montague investigation, or if you have any questions regarding your rights or interests, please contact the lawyers Andre Abramowitz at [email protected] or (215) 875-3015, or
Michael Dell ‘Angelo to [email protected] or (215) 875-3080 or visit: https://investigations.bergermontague.com/pegasystems-inc/
Whistleblowers: Anyone with non-public information about Pegasystems is encouraged to help confidentially. At Berger Montague survey 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 industrial espionage and misappropriation of trade secrets to better compete with Appian Corp. and that she had engaged in a scheme to steal Appian’s trade secrets.
The truth regarding the Company’s fraudulent conduct was revealed on May 9, 2022when Pegasystems announced that a jury had awarded Appian, who had sued the company for theft of 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, 2022at a closing price of $52.25 on May 10, 2022.
Shepherd Montaguewith offices at philadelphia cream, Minneapolis, washington d.c.and San Diegohas been a pioneer in securities class actions since its founding in 1970. Shepherd Montague has represented individual and institutional investors for over five decades and acts as lead counsel before courts across United States.
Andre Abramowitzsenior counsel
Michael Dell ‘Angelo, executive shareholder
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