Cambridge Analytica Files for Bankruptcy

Cambridge Analytica, the shadowy political consultancy at the heart of the data-harvesting scandal that has rocked Facebook, filed for voluntary Chapter 7 bankruptcy protection in a New York court late Thursday. The company listed assets in the range of $100,001 to $500,000 and liabilities in the range of $1 million to $10 million, Reuters reported. Cambridge Analytica and its British parent company, SCL Elections, announced at the start of the month that it would shut down immediately after the businesses were hit by accusations that it used personal data of millions of Facebook users in an attempt to sway the outcomes of the 2016 U.S. presidential election and the U.K. Brexit referendum.