Cambridge Analytica Declares Bankruptcy In U.S. In Wake Of Facebook Scandal

Signs for Cambridge Analytica in London in March 2018. Chris J. Ratcliffe/Getty Images

Months after being entangled in a major data scandal that shook the world, Cambridge Analytica, the firm at the centre of this year’s Facebook privacy row, filed for voluntary Chapter 7 bankruptcy in a New York court late on Thursday. 

In the report, Cambridge Analytica LLC listed assets in the range of $100,001 to $500,000 and liabilities in the range of $1 million to $10 million. 

Cambridge Analytica and its British parent SCL Elections Ltd said earlier this month that they would shut down immediately and begin bankruptcy proceedings after suffering a sharp drop in business.





Disclaimer: Stories culled and pictures posted on this blog will be given due credit and is not the fault of drifternews.blogspot.com if website culled from misrepresents source of story.