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Cambridge Analytica, overwhelmed by a scandal over how it harvested data from Facebook to influence the last USA election, filed for bankruptcy in NY.

The petition to file bankruptcy was submitted at the US Bankruptcy Court Southern District of NY and was signed on behalf of Cambridge Analytica's board by Rebekah and Jennifer Mercer, daughters of billionaire Robert Mercer.

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.

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The American proceeding could also shed light on some of the company's relationships and finances, as U.S. legal proceedings are more transparent than those in the United Kingdom, and creditors can use bankruptcy law to subpoena information and probe asset transfers. Cambridge Analytica improperly obtained and used info on millions of Facebook users as part of its political-consulting work, including on behalf of Donald Trump's 2016 presidential campaign, according to reports that first came out in mid-March.

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 Mercer family was one of Trump's biggest donors.

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Christopher Wylie, an ex-employee of Cambridge Analytica who blew the whistle on the company's misuse of Facebook, told the Senate Judiciary Committee that the company offered strategies to discourage certain segments of the population from voting.

"Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the company's efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas", the company said in a May 2 statement.

Cambridge Analytica faces lawsuits in the United States over the Facebook data collection.

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Facebook remains in damage-control mode in the wake of Cambridge Analytica fiasco.

Cambridge Analytica suspended chief executive Alexander Nix in March pending an investigation after he boasted of various services to an undercover reporter for Britain's Channel 4 News. He testified before a United Kingdom parliamentary committee, describing the firm as one that dealt with illegal data and hacked material to win elections.

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