TECH
05/18/2018 03:14 am ET

Cambridge Analytica Files For Chapter 7 Bankruptcy After Facebook Privacy Row

The firm at the center of the Facebook data hack made the decision after suffering a sharp drop in business.

(Reuters) - Cambridge Analytica, the firm at the center of this year’s Facebook privacy row, filed for voluntary Chapter 7 bankruptcy in a New York court late on Thursday.

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.

HuffPost

BEFORE YOU GO

PHOTO GALLERY
Russian Facebook Ads
CONVERSATIONS