SAN DIEGO, Nov. 28, 2023 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced an update in the lawsuit that is pending for certain investors in shares of Pegasystems Inc. (NASDAQ: PEGA).

Investors, who purchased Pegasystems Inc. (NASDAQ: PEGA) shares prior to May 2020 and continue to hold any of those NASDAQ: PEGA shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On May 20, 2022, a lawsuit was filed against Pegasystems Inc. over alleged securities laws violations. The plaintiff alleged that the defendants made materially false and misleading statements between May 29, 2020, and May 9, 2022, including by failing to disclose that Pegasystems had misappropriated trade secrets to better compete against Appian Corp, a principal competitor, that the Defendants' product development and associated success was, in significant part, not the result of its own research and product testing but rather the result of corporate espionage and trade secret theft, and that Defendants had engaged in a scheme to steal Appian trade secrets, which was not only known to, but carried out through, the personal involvement of the Company's CEO

On October 18, 2023, a consolidated amended complaint was filed and on December 19, 2023, the defendants filed a motion to dismiss the consolidated, amended complaint.

On May 17, 2023, the court issued an order denying defendants' motion to dismiss.

On July 24, 2023, the court issued an order dismissing claims against one of the defendants.

Those who Pegasystems Inc. (NASDAQ: PEGA) shares should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

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