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Cambridge Analytica Files for Bankruptcy

A laptop showing the Facebook logo is held alongside a Cambridge Analytica sign at the entrance to the London offices of Cambridge Analytica. The company's acting CEO, Alexander Tayler, is stepping down, and is the second CEO out since the data sharing scandal broke.

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.

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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