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