Kaskela Law LLC announces that it is investigating potential legal claims on behalf of Pegasystems Inc. (NASDAQ: PEGA) long-term shareholders.
Recently an amended securities fraud complaint was filed against Pegasystems on behalf of certain investors who purchased shares of the company’s stock between June 16, 2020 and May 9, 2022. According to the complaint, during that time period Pegasystems and certain of its senior executives and employees “engaged in a systematic, willful, and malicious scheme to misappropriate and profit from Appian [Corp.]’s trade secrets and confidential information.”
On May 9, 2022, Pegasystems disclosed that a jury had awarded Appian over $2 billion for Pegasystems’ trade secret misappropriation. Following this disclosure, shares of Pegasystems common stock fell $13.68 per share, or over 20% in value, to close on May 10, 2023 at a price of $52.25 per share, on unusually heavy trading volume.
The investigation seeks to determine whether the members of Pegasystems’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Pegasystems stockholders who purchased or acquired their PEGA shares prior to June 16, 2020 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/pegasystems/ , for additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231218891584/en/
Contacts
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
