Cambridge Analytica LLC, the data firm embroiled in controversy following allegations of misuse of Facebook data during the 2016 presidential campaign, filed for bankruptcy protection in New York.

The company filed for chapter 7 protection Thursday night in the U.S. Bankruptcy Court in New York along with the U.S. arm of its consulting business, SCL Group. The U.K. branch of the company had filed for protection from creditors in the U.K. earlier this month. </s> Washington (CNN) Cambridge Analytica, the embattled data firm that worked on Donald Trump's 2016 presidential campaign, filed for Chapter 7 bankruptcy on Thursday.

The firm voluntarily submitted a petition to declare bankruptcy at the US Bankruptcy Court Southern District of New York.

The filings note an estimated number of creditors between 1-49, estimated assets of $100,001 -- $500,000 and estimated liabilities of $1,000,001 - $10 million.

The company has come under fire over allegations it misused the personal Facebook data of millions.

The company has likewise struggled with the fallout of undercover recordings by Channel 4 News in the UK that showed executives at the firm discussing Cambridge Analytica's efforts on behalf of the Trump campaign and the lengths to which they said they would be willing to go for prospective clients, including then-CEO Alexander Nix suggesting they would "send some girls around" in order to obtain compromising material on a hypothetical candidate.

Read More </s> Cambridge Analytica, the firm at the center of this year's Facebook privacy row, filed for voluntary Chapter 7 bankruptcy in a New York court late on Thursday.

REUTERS: Cambridge Analytica, the firm at the center of this year's Facebook privacy row, filed for voluntary Chapter 7 bankruptcy in a New York court late on Thursday.

Cambridge Analytica LLC listed assets in the range of US$100,001 to US$500,000 and liabilities in the range of US$1 million to US$10 million.

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. </s> Cambridge Analytica, the firm at the center of this year's Facebook privacy row, filed for voluntary Chapter 7 bankruptcy in a New York court late on Thursday.



Cambridge Analytica LLC listed assets in the range of $100,001 to $500,000 and liabilities in the range of $1 million to $10 million. 



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. </s> Cambridge Analytica, the firm at the center of Facebook privacy scandal, filed for voluntary Chapter 7 bankruptcy in a New York court late on Thursday.

Cambridge Analytica listed assets in the range of $100,001 to $500,000 and liabilities in the range of $1 million to $10 million, according to Reuters.

In a Chapter 7 filing, a company goes into liquidation mode, essentially going out of business. It sells property and distributes the proceeds to creditors.

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

Facebook disclosed in March that consultancy Cambridge Analytica had harvested data belonging to millions of users.

The Cambridge Analytica scandal, affecting up to 87 million users and prompting several apologies from Chief Executive Mark Zuckerberg, generated calls for regulation and for users to leave the social network.

Cambridge Analytica marketed itself as a provider of consumer research, targeted advertising and other data-related services to both political and corporate clients and was hired by President Donald Trump's 2016 U.S. election campaign. </s> The scandal-ridden company has filed for Chapter 7 bankruptcy, reports Reuters. The filing isn’t unexpected as the company and its British parent SCL Elections Ltd said earlier this month they would both be shutting down and filing for bankruptcy after an abrupt drop in business after news of the Facebook-Cambridge Analytica scandal broke in March. It was then that allegations surfaced that said the Trump 2016 election campaign hired the firm to target voters on social media. The company was allegedly improperly using the data of at least 87 million Facebook users since 2014 in attempts to target voters with specific messaging for its users, who did not give their consent to have their demographic and psychometric data be used in such a way. </s> Cambridge Analytica, the firm at the center of this year's Facebook privacy row, filed for voluntary Chapter 7 bankruptcy in a New York court late on Thursday.

REUTERS: Cambridge Analytica, the political consultancy at the center of Facebook Inc's 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.

The Mercer family was one of Trump's biggest donors.

Cambridge Analytica LLC listed assets in the range of US$100,001 to US$500,000 and liabilities in the range of US$1 million to US$10 million.

London-based Cambridge Analytica was created in 2013 initially with a focus on U.S. elections, with US$15 million in backing from Mercer and a name chosen by former Trump White House adviser Steve Bannon, according to a report by the New York Times.

Facebook has faced multiple investigations in the United States and Europe over its handling of personal data of users, hurting shares of the Mark Zuckerberg-led company.

Zuckerberg has appeared before U.S. congressional committees to testify on data privacy and will meet leaders of the European Parliament soon.

Facebook said on Monday it has suspended around 200 apps in the first stage of its review into apps that had access to large quantities of user data before the company restricted data access. </s> New York — British political consulting group Cambridge Analytica filed for voluntary Chapter 7 bankruptcy in the Southern District of New York, court documents showed.

The firm, whose attorney filed late on Wednesday, announced in early May that it would close and file for bankruptcy in the UK and the US after failing to recover from the Facebook data scandal.

The documents listed Cambridge Analytica’s estimated assets in the range of $100,001 and $500,000, with estimated liabilities between $1m and $10m. Earlier in May, 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 firm became embroiled in scandal in March when former analyst Christopher Wylie revealed it had used a Facebook personality prediction app to hijack up to 87-million Facebook users’ data — claims Cambridge Analytica denies.

Soon after, Cambridge Analytica CEO Alexander Nix was suspended after he was filmed by undercover reporters bragging about ways to win political campaigns, including through blackmail and honey traps.

Meanwhile, another whistle-blower said Britons’ personal data may have been misused by a pro-Brexit campaign ahead of the 2016 referendum in which Britain voted to leave the EU.

Wylie has also since told a Senate panel on interference in the 2016 US election that Cambridge Analytica had used Russian researchers and shared data with companies linked to Russian intelligence.

This week, the New York Times reported the US justice department and the Federal Bureau of Investigation are investigating Cambridge Analytica — although it was unclear if the probe was linked to special counsel Robert Mueller’s into Trump campaign collusion with Russia. </s> Cambridge Analytica is closing its US offices in wake of the disclosure of its misuse of Facebook data, media reported. The company has filed for insolvency in the UK and will start bankruptcy proceedings in the US soon.

"Earlier today, SCL Elections Ltd., as well as certain of its and Cambridge Analytica LLC's UK affiliates (collectively, the "company" or "Cambridge Analytica") filed applications to commence insolvency proceedings in the UK," the company announced in a statement.

The statement said that "parallel bankruptcy proceedings will soon be commenced on behalf of Cambridge Analytica LLC and the certain of the company's US affiliates in the United States Bankruptcy Court for the Southern District of New York."

All employees have been instructed to promptly turn in their computers and return their keycards, with the firm announcing that it will officially close its doors on Wednesday, the report said.

Facebook has acknowledged that Cambridge Analytica harvested the personal information of up to 87 million users of the social media site without the permission from the users.

READ MORE: UK Parl't Invites Zuckerberg to Give Evidence on Cambridge Analytica Case — MP

Cambridge Analytica is a private UK-based analytical company that uses in-depth data analysis technology to develop strategic communication during election campaigns on the Internet. The company has worked on various political campaigns, using the data to improve a mechanism that would predict and influence the behavior of voters.
Cambridge Analytica files for Chapter 7 bankruptcy.