Wednesday , 21 November 2018
Breaking News

Cambridge Analytica files for bankruptcy in US

NEW DELHI: UK-based political consulting firm Cambridge Analytica, which was recently embroiled in a massive data-harvesting scandal that compromised the personal information of up to 87 million Facebook users, 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.

 Earlier this month, the company had announced it will shut down operations. The London firm had blamed “unfairly negative media coverage” for its closure decision and said it has been “vilified” for actions which it claimed are both legal and widely accepted as part of online advertising.

Loading...

Leave a Reply

Your email address will not be published. Required fields are marked *

*