Cambridge Analytica filed for bankruptcy under Chapter 7 of the Bankruptcy Code late last week and recently announced that it will be shutting down. We will be monitoring the case for interesting bankruptcy litigation updates that are expected to arise. Cambridge Analytica was a political consulting firm that came under fire related to private data of Facebook users.
The case was filed in the U.S. Bankruptcy Court for the Southern District of New York and the voluntary petition is available here. The petition lists assets of up to $500,000 and liabilities in the range of $1 million to $10 million.
In addition, several of Cambridge Analytica’s affiliates have also filed for bankruptcy in the Southern District of New York as well as in the High Court of Justice, Business and Property Courts of England and Wales. SCL USA, Inc. also filed a Chapter 7 petition in the Southern District of New York.
Here are a few additional articles on the filing —
We will continue to monitor as this case develops.
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