NEW ORLEANS, May 24, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until July 18, 2022 to file lead plaintiff applications in a securities class action lawsuit against Pegasystems Inc. (NasdaqGS: PEGA), if they purchased the Company’s shares between May 29, 2020 and May 9, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Virginia.
Pegasystems investors should visit us at https://claimsfiler.com/cases/nasdaq-pega-2/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Pegasystems and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 9, 2022, post-market, the Company disclosed that a Virginia state court jury deliberating over a lawsuit brought by one of its principal competitors, Appian Corporation (“Appian”) for stealing its trade secrets and violating the commonwealth’s computer crime law had awarded Appian more than $2 billion for the Company’s “willful and malicious” trade secret misappropriation.
On this news, shares of Pegasystems plummeted from $65.93 per share on May 9, 2022, to close at $52.25 per share on May 10, a one-day decline of 21% that wiped out over $1 billion in market capitalization.
The case is City of Fort Lauderdale Police and Firefighters’ Retirement System v. Pegasystems Inc., et al., No. 1:22-cv-00578.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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