UPDATE 1-Anduril and Palantir battlefield communication system 'very high risk,' US Army memo says

(Adds context on companies, date of memo and Palantir stock price; New paragraphs 3, 6-10, 15-17, moves up 14th paragraph) * Army memo highlights security issues in NGC2 platform * Anduril says memo reflects outdated program state * Palantir stock drops over 7% By Mike Stone WASHINGTON, Oct 3 (Reuters) – The much-needed modernization of the U.S. Army's battlefield communications network being undertaken by Anduril, Palantir and others is rife with "fundamental security" problems and vulnerabilities, and should be treated as a "very high risk," according to a recent internal Army memo. The two Silicon Valley companies, led by allies of U.S. President Donald Trump, have gained access to the Pentagon's lucrative flow of contracts on the promise of quickly providing less expensive and more sop