Is Appian About to Checkmate Its Top Rival?
Appian (NASDAQ: APPN) stock is down 54% this year as slowing growth, widening losses, and fears of a recession have all weighed on the low-code software company.
However, the most important thing for investors to watch with the cloud stock may have nothing to do with its quarterly earnings reports. That's because Appian has been awarded a jury verdict of $2.06 billion in Virginia state court after it sued rival Pegasystems (NASDAQ: PEGA) for theft of trade secrets.
Appian was awarded those damages in May, and in September the court entered final judgement, which included a 6% interest penalty, equal to $122 million a year, against Pegasystems that it must pay if the verdict stands after the appeals process.
Source Fool.com
