Cambridge Analytica Files U.S. Bankruptcy After Data Scandal
- Filing follows announcement firm is shutting down in the U.K.
- Facebook, Google, small tech companies among U.S. creditors
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Cambridge Analytica, overwhelmed by a scandal over how it harvested data from Facebook to influence the last U.S. election, filed for bankruptcy in New York.
The U.K.-based political consulting firm, which had already said it would cease operations and wind down in its home country, listed liabilities of $1 million to $10 million. The Chapter 7 petition to liquidate U.S. affiliates -- including SCL Elections Ltd., and SCL USA Inc. and SCL Social Ltd. -- was signed by board members Rebekah Mercer and Jennifer Mercer, daughters of former New York hedge fund manager Robert Mercer whose family backed Donald Trump presidential campaign and helped reshape American conservative politics.