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May 18, 2018

Cambridge Analytica files for voluntary bankruptcy: US Court


cambridgeanalytica

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

On May 16, the firm, whose attorney had filed, announced early May that it would close and file for insolvency in Britain and the United States after failing to recover from the Facebook data scandal.

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."

The US Justice Department and the FBI are investigating CA - although it was unclear if the probe was linked to Special Counsel Robert Mueller's into Trump campaign collusion with Russia, as per reports.

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