19 May Cambridge Analytica Files for Chapter 7 Bankruptcy in US
It was reported last Thursday that the political consultancy firm in the middle of the Facebook privacy scandal had filed a Chapter 7 bankruptcy in the United States.
Cambridge Analytica had been accused of misusing the data of up to 87 million Facebook users since 2014. The data was harvested by an app called “This is Your Digital Life” developed by a contractor named Aleksandr Kogan.
The bankruptcy petition was submitted at the U.S. Bankruptcy Court Southern District of New York by board members Rebekah and Jennifer Mercer, daughters of billionaire Robert Mercer who funded the firm.