Cambridge Analytica files for Chapter Seven bankruptcy

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.