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Cambridge Analytica files for bankruptcy in US

Data analytics company Cambridge Analytica LLC has filed for voluntary Chapter 7 bankruptcy at a New York court, about two months after a scandal emerged over misuse of Facebook Inc. user data, Reuters reported.

The company reportedly listed assets ranging from $100,001 to $500,000 and liabilities ranging from $1 million to $10 million. It said earlier in May that it would shut down after customers and suppliers began walking away.

Cambridge Analytica's access to personal data of 50 million Facebook users reportedly may have played a role in influencing U.S. voters during the 2016 presidential campaign, though Cambridge Analytica has denied these allegations.

Facebook, which is being probed by governments across the globe, including the U.S. and in Europe, has suspended around 200 apps for potential data misuse.

Founder and CEO Mark Zuckerberg will appear to appear before members of the European Parliament in Brussels as early as the week of May 21.