secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0000876167-23-000113
Event type: cyber
Sentiment:  negative
Materiality: 0.40
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progress Software discloses zero-day vulnerability in MOVEit Transfer
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- On May 28, 2023, Progress learned of unusual activity in MOVEit Transfer, discovering a zero-day vulnerability allowing unauthorized escalated privileges.
- Progress notified customers and took down MOVEit Cloud on May 30, releasing patches for all supported versions on May 31.
- MOVEit Transfer and MOVEit Cloud accounted for less than 4% of Progress' annual gross revenue as of May 31, 2023.
- Progress engaged outside cybersecurity experts and federal law enforcement; does not currently believe the vulnerability will materially impact business or financial results.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000113/0000876167-23-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000113/prgs-20230530.htm
  HTML page:      https://secwatch.observer/filing/0000876167-23-000113

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer