This is the best summary I could come up with:

Apple released a significant security update for iPhones and iPads Thursday to patch newly discovered security vulnerabilities in the devices’ system software.

The issue was discovered by researchers at the University of Toronto’s Citizen Lab, who said the software flaw was being “actively exploited” to deliver commercial spyware called Pegasus developed and sold by the Israeli company NSO Group.

Pegasus is an expensive tool typically used to target dissidents, journalists and political opponents, so ordinary users likely have little to fear.

Still, Citizen Lab recommends that all users should “immediately” update their devices.

If you don’t see the update, go back to the General page, then tap “About” to check your iOS version number.

If that doesn’t make the update appear, double-check your internet connection and then wait a bit before trying again.

The original article contains 198 words, the summary contains 133 words. Saved 33%. I’m a bot and I’m open source!

If this was used for some kind of malware that caused your phone to be compromised as well as forward the malware to everyone in your contacts list this could be catastrophically bad. Like a modern day lovebug virus.