Serv-U FTP Exploit?

[ChrisK () yankton com (Chris Kline)]

I've heard a few rumors about an exploit found in Serv-U FTP that supposedly
compromised all security and gave you full access to the servers hard drive,
including execution permissions.  Because of this I've been warned not to use
it, but no matter how much I search for an exploit, I can't seem to find it.
So can anyone confirm this exploit and show how it's done and what to do to
protect against it?