In a recent press release, it was announced that Progress, a trusted provider of AI-powered infrastructure software, has been cleared of any enforcement action by the Securities and Exchange Commission (SEC) in relation to the MOVEit vulnerability. The SEC’s Division of Enforcement conducted a fact-finding investigation into the matter and has determined that no action against Progress is necessary at this time.
This news comes after Progress received a subpoena from the SEC on October 2, 2023, as part of an inquiry into the MOVEit vulnerability. The SEC requested various documents and information from Progress related to the vulnerability as part of their investigation. However, after reviewing the findings, the SEC has decided not to pursue any enforcement actions against the company.
Progress, listed on Nasdaq under the ticker symbol PRGS, has been a key player in empowering organizations to achieve success amidst disruptive changes. Their software allows customers to develop and manage AI-powered applications with ease and agility. With over 4 million developers and technologists relying on Progress for their software needs, the company has established itself as a trusted provider in the industry.
The outcome of the SEC’s investigation is a positive development for Progress and its stakeholders. By clearing the company of any enforcement actions, the SEC has acknowledged that Progress has cooperated fully and has not violated any securities laws in relation to the MOVEit vulnerability. This news is likely to boost investor confidence in the company and reaffirm its position as a reliable and compliant player in the market.
Progress, with its commitment to providing cutting-edge software solutions and services, has positioned itself as a leader in the industry. The company’s focus on innovation and customer satisfaction has set it apart from its competitors, earning the trust and loyalty of millions of developers and enterprises worldwide.
As Progress continues to drive transformation and success for its customers, the SEC’s decision not to pursue enforcement actions further validates the company’s commitment to transparency and compliance. With this cloud of uncertainty lifted, Progress can now focus on its core mission of helping organizations navigate the complexities of today’s rapidly changing business landscape.
In conclusion, the SEC’s clearance of Progress in the MOVEit vulnerability investigation is a testament to the company’s commitment to integrity and compliance. With this chapter closed, Progress can now look ahead to a future filled with opportunities for growth and innovation.