May 2, 2018 / 6:36 PM / 20 days ago

BRIEF-Cambridge Analytica and SCL Elections Ltd Commence Insolvency Proceedings

May 2 (Reuters) -

* CAMBRIDGE ANALYTICA AND SCL ELECTIONS COMMENCE INSOLVENCY PROCEEDINGS

* CAMBRIDGE ANALYTICA - SCL ELECTIONS LTD., CERTAIN OF ITS AND CAMBRIDGE ANALYTICA LLC’S U.K. AFFILIATES FILED TO COMMENCE INSOLVENCY PROCEEDINGS IN U.K.

* CAMBRIDGE ANALYTICA- CO IMMEDIATELY CEASING ALL OPERATIONS; BOARDS APPLIED TO APPOINT INSOLVENCY PRACTITIONERS TO ACT AS THE INDEPENDENT ADMINISTRATOR

* CAMBRIDGE ANALYTICA- BANKRUPTCY PROCEEDINGS TO SOON BE COMMENCED ON BEHALF OF CO, CERTAIN OF CO’S U.S. AFFILIATES IN A U.S. BANKRUPTCY COURT

* CAMBRIDGE ANALYTICA- COUNSEL JULIAN MALINS RETAINED TO CONDUCT INDEPENDENT INVESTIGATION INTO THE ALLEGATIONS REGARDING THE CO’S POLITICAL ACTIVITIES

* CAMBRIDGE ANALYTICA- MALINS REPORT, WHICH THE COMPANY POSTED ON ITS WEBSITE , CONCLUDED THAT THE ALLEGATIONS WERE NOT “BORNE OUT BY THE FACTS”

* CAMBRIDGE ANALYTICA - NO LONGER VIABLE TO CONTINUE OPERATING BUSINESS, WHICH LEFT CO WITH NO REALISTIC ALTERNATIVE TO PLACING CO INTO ADMINISTRATION Source text - bit.ly/2Ksp5Qu Further company coverage:

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