SEC Launches Probe into Progress Software's MOVEit Vulnerability, Issues Subpoena

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Image by Sergei Tokmakov, Esq from Pixabay

In a regulatory filing this week, Progress Software confirmed it had received a subpoena from the US Securities and Exchange Commission (SEC) seeking “various documents and information” relating to the MOVEit vulnerability, which led to breaches at 2,546 organizations affecting more than 65 million people.

“The SEC investigation is a fact-finding inquiry, the investigation does not mean that Progress or anyone else has violated federal securities laws,” Progress said, adding that it intends to “cooperate fully” with the investigation.

Progress also said in the filing that it expects minimal financial impact from the MOVEit mass hacks despite the broad scale of the incident. The company said it incurred $1 million of costs related to the MOVEit vulnerability once it had taken into account received and ex…