Let me try describing it this way.
Look at the back pocket of a pare of bluejeans. On the top edge of the inside of the pocket, there is a fold over in the fabric. What I'm thinking is at the edge of each pleat, from top to bottum, put a fold like what you see on the inside edge of the pocket of the bluejeans. That fold back on the edge of the pleat would only cover half of the width of the exposed end of the knife pleat. It would probably be about the same size as the folded edge of the bluejean pocket and would have two rows of stiching just like on the pocket. The outer most row of stiches would go all the way through the pleat and sow in the pleat. The inner row of stiches would only hold the fold over to the top layer of the pleat.