Investing.com -- Appian (NASDAQ: APPN ) shares climbed 2% after the company announced that the Supreme Court of Virginia has agreed to hear its petition to reinstate a $2.036 billion verdict against Pegasystems (NASDAQ: PEGA ), Inc. The legal development comes as Appian seeks to overturn a previous Court of Appeals decision regarding a significant trade secret misappropriation case.

The case revolves around allegations that Pegasystems had a "spy" analyze Appian’s software to enhance its own product, leading to substantial revenue gains at Appian’s expense. The jury’s original unanimous verdict was based on extensive testimony and evidence presented over seven weeks, which Appian hopes to see reinstated by the state’s highest court.

Appian’s General Counsel, Christopher Winters, expressed optimism about the Supreme Court’s decision to review the case, stating, "We are encouraged that the Supreme Court of Virginia has agreed to review our case. We look forward to being heard by the highest court in Virginia and remain hopeful the Court will reinstate the jury’s verdict and corresponding damages, which were in line with the scope of wrongdoing found in this case and which we believe is the correct legal outcome."

While the Supreme Court will also consider Pega’s cross-appeal issues, these arguments have previously been dismissed by both the trial court and the Court of Appeals. Moreover, the Virginia jury’s finding that Pegasystems violated the Virginia Computer Crimes Act has been left unchallenged and stands confirmed.

The timeline for the Supreme Court’s decision remains uncertain, as Appian has indicated that the outcome and the duration of the appeal process cannot be predicted. Investors’ response to the news has resulted in a modest uptick in Appian’s stock price, reflecting the potential for a favorable legal outcome to impact the company’s financial position. However, the final judgment and its implications for Appian’s intellectual property and financial restitution remain to be seen.

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