Cambridge Analytica files for voluntary bankruptcy in US: court

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AFP New York
Last Updated : May 18 2018 | 4:50 PM IST

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British political consulting group Cambridge Analytica filed for voluntary Chapter 7 bankruptcy in the Southern District of New York, court documents showed.

The firm, whose attorney filed late Wednesday, announced early May that it would close and file for bankruptcy in Britain and the United States after failing to recover from the Facebook data scandal.

The documents, seen by AFP, listed Cambridge Analytica LLC's estimated assets in the range of USD 100,001 and USD 500,000, with estimated liabilities between USD 1 million and USD 10 million.

Earlier this month, the company - which worked on Donald Trump's 2016 presidential campaign - claimed its business had been ruined by "numerous unfounded accusations" which rendered operating the business "no longer viable."

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First Published: May 18 2018 | 4:50 PM IST

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