Cambridge Analytica files for bankruptcy in U.S. following Facebook debacle

[DonViejo]

Source: Reuters



MAY 18, 2018 / 2:39 AM / UPDATED 39 MINUTES AGO

(Reuters) - Cambridge Analytica, the political consultancy at the center of Facebook Inc’s (FB.O) privacy scandal, filed for Chapter 7 bankruptcy in the United States late on Thursday.

This past March allegations surfaced that Cambridge Analytica, hired by President Donald Trump’s 2016 U.S. election campaign, improperly used data of 87 million Facebook users beginning in 2014.

Cambridge Analytica and its British parent SCL Elections Ltd said earlier this month that they would shut down immediately and begin bankruptcy proceedings after suffering a sharp drop in business.

The petition to file bankruptcy was submitted at the U.S. Bankruptcy Court Southern District of New York and was signed on behalf of Cambridge Analytica’s board by Rebekah and Jennifer Mercer, daughters of billionaire Robert Mercer.

Read more: https://www.reuters.com/article/us-cambridge-analytica-bankruptcy/cambridge-analytica-files-for-chapter-7-bankruptcy-idUSKCN1IJ0IS

[Eyeball_Kid]

1. Recent reports indicate that those who formed the guts of CA have now

reconstituted their organization under another name. They'll be back, especially because no one has been indicted. Yet.

[forgotmylogin]

2. Yeah, forgive all their debt so they can change identity.

They deserve it.

[SWBTATTReg]

3. These guys don't need bankrupcy protection...they have the Mercers!!

Don't let them use the law to legally escape their debts, especially when it's the Mercers! They are also obviously afraid that they'll be sued for far more then the company is worth, so they are running to hide back under the toll bridge.