Check Point Software Technologies (CHKP) shares dropped 4% in Monday afternoon trading after the company said it has identified a security vulnerability impacting its security gateway products and has released a software update addressing it.

The vulnerability, which affects Remote Access VPN and Mobile Access functionality in certain configurations of its products, can be exploited by threat actors for unauthorized access to the environments they are deployed, Check Point said in a regulatory filing.

Check Point said it became aware of the vulnerability on June 4. The company added it has identified instances where it was exploited by threat actors to access customer environments and has contacted the affected customers.

The matter is not "reasonably likely" to have a material impact on the company, based on the investigation to date, Check Point said.

Price: 130.22, Change: -5.60, Percent Change: -4.12