This indicates an attack attempt against a directory traversal vulnerability in Ipswitch WhatsUp Small Business.
The vulnerability is caused by insufficient checking of user-supplied input. It allows a remote attacker to read arbitrary files outside the Web root by using "../" in a request.
WhatsUp Small Business 2004 Any version
Information Disclosure: Remote attackers can gain sensitive information from vulnerable systems.
No patch from the vendor is available as of this writing.