Watching Progress Software; The Bear Cave Newsletter Issues Report On Co Titled 'Problems at Progress Software (PRGS)'
Portfolio Pulse from Benzinga Newsdesk
Progress Software (NASDAQ:PRGS), a producer of enterprise software products, has been highlighted in a report by The Bear Cave due to a significant data breach involving its secure file transfer service, MOVEit. The breach, which is believed to affect the privacy of millions of Americans and compromise important government agencies, was discovered on May 30, 2023. The U.S. Cybersecurity & Infrastructure Security Agency (CISA) and the FBI have released an advisory on the issue, and the U.S. Department of State has offered a reward of up to $10 million for information linking the breach to a foreign government.
November 02, 2023 | 2:32 pm
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Progress Software's MOVEit service has suffered a significant data breach, potentially affecting the privacy of millions of Americans and compromising important government agencies. This could negatively impact the company's reputation and future revenue.
The data breach at Progress Software's MOVEit service is a significant event that could have serious repercussions for the company. The breach has potentially compromised the privacy of millions of Americans and important government agencies, which could lead to a loss of trust in the company and its services. This could in turn impact the company's future revenue and profitability.
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