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Customer data privacy concerns as 23andMe files for Chapter 11 bankruptcy, CEO resigns

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A sign is posted in front of the 23andMe headquarters on February 01, 2024 in Sunnyvale, California. (Photo by Justin Sullivan/Getty Images)
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23andMe has filed for Chapter 11 bankruptcy protection and its co-founder and CEO has resigned as the struggling genetic testing company continues its push to cut costs.

The company said Sunday that it will look to sell “substantially all of its assets” through a court-approved re-organization plan.

Shares of 23andMe have shed nearly all their value since last spring and plunged below $0.70 by Tuesday, but privacy concerns related to customers’ genetic information have also emerged.

Trending Now’s Manesa Dhanabalan spoke with Francis Syms, Associate Dean of Information and Communications Technology at Humber Polytechnic about 23andMe and how the company got here.

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