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BenQ Lighting

DNA testing site 23andMe files for bankruptcy protection

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Popular DNA testing firm 23andMe has filed for bankruptcy protection, and announced that its co-founder and CEO, Anne Wojcicki, has resigned with immediate effect. The company will now attempt to sell itself under the supervision of a court.
The article from MSN discusses how 23andMe, a popular DNA testing company, has filed for bankruptcy protection. This filing comes amidst financial struggles exacerbated by a significant data breach that compromised the genetic information of millions of its users. The breach not only led to a loss of consumer trust but also resulted in numerous lawsuits, further straining the company's finances. 23andMe's decision to seek bankruptcy protection is aimed at restructuring its debts and potentially selling off assets to keep the business operational. The company, once valued at billions, is now navigating through one of its most challenging periods, with its future uncertain as it tries to regain stability and consumer confidence.

Read the Full BBC Article at:
[ https://www.msn.com/en-us/money/companies/dna-testing-site-23andme-files-for-bankruptcy-protection/ar-AA1Bwvtt ]