Cambridge Analytica files for bankruptcy in US following Facebook debacle
Updated : May 18, 2018 04:45 PM IST
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.
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.
Facebook has faced multiple investigations in the United States and Europe over its handling of personal data of users, hurting shares of the Mark Zuckerberg-led company.