Technology

Cambridge Analytica files for Chapter 7 bankruptcy


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

FILE PHOTO: The nameplate of political consultancy, Cambridge Analytica, is seen in central London, Britain March 21, 2018. REUTERS/Henry Nicholls

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.

Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Gopakumar Warrier

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