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On September 15, 2022, Pegasystems filed a notice of appeal to the Court of Appeals of Virginia.
−Removed: Both sides have submitted their respective appeal briefs to the Court of Appeals, and the Court held a hearing on the appeal on November 15, 2023.
−Removed: The timeline of the case is solely within the control of the Court of Appeals until it rules.
−Removed: Pegasystems is not required to pay us the judgment, attorney’s fees, or post-judgment interest until all appeals are exhausted.
−Removed: We cannot predict the outcome of any appeals or the exact time it will take to resolve them.
−Removed: Consistent with other judgments, there is no guarantee we will be able to collect all or any portion of the judgment.
+Added: On July 30, 2024, the Court of Appeals of Virginia issued a decision reversing the judgment against Pegasystems and remanding for a new trial.
+Added: The decision rejected Pegasystems’ argument that Appian had not presented evidence that trade secrets were misappropriated but reversed the judgment on the basis of evidentiary and damages rulings made by the trial court.
+Added: On August 29, 2024, Appian submitted a petition to the Supreme Court of Virginia seeking to reverse the Court of Appeals decision and reinstate the full judgment against Pegasystems.
+Added: Pegasystems filed an opposition to the petition and cross-issues for appeal on October 21, 2024.
+Added: Appian's petition was heard on February 11, 2025.
+Added: The timeline for rendering a decision is solely in the control of the Supreme Court.
Other Matters
From time to time, we may become involved in legal proceedings or be subject to claims arising in the ordinary course of our business.
−Removed: Other than as disclosed elsewhere in this Annual Report, we are not presently a party to any legal proceedings that, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, financial condition, or cash flows.
+Added: Other than as disclosed elsewhere in this Annual Report on Form 10-K, we are not presently a party to any legal proceedings that, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, financial condition, or cash flows.
Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management time and resources, and other factors.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.