Appian Corp, a cloud computing and software company, said on Tuesday that a Virginia jury ordered rival Pegasystems Inc to pay $2.04 billion in damages for trade secret misappropriation.

In morning trading, Appian shares were up 25.1% at $53.83, while Pegasystems was down 20.6% at $52.38.

The damages award issued by the Fairfax County jury after a seven-week trial, and may be the largest in Virginia's history, Appian said.

Pegasystems did not immediately respond to requests for comment.

  - Reuters