Appian (APPN) said Friday that the Supreme Court of Virginia agreed to hear its petition to reinstate a jury's $2.04 billion judgment against Pegasystems (PEGA) for trade secret misappropriation.
The court agreed to review four issues raised in the Court of Appeals decision.
Appian sued Pegasystems to protect its intellectual property. A jury found that Pegasystems used a "spy" to get trade secrets, benefiting financially from the misappropriation, Appian said.
The Supreme Court also agreed to review Pegasystems' cross-appeal on trade secret misappropriation, though lower courts rejected its arguments, Appian said.
Pegasystems didn't immediately respond to a request for comment from MT Newswires.
Shares of Appian rose 3.1% in recent Friday trading, and Pegasystems fell 0.3%.
Price: 32.19, Change: +0.98, Percent Change: +3.12
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