India, March 25 -- Biotech giant 23andMe filed for Chapter 11 bankruptcy on Sunday sparking DNA data breach concerns. The company's shares fell to as much as 50% on Monday after founder Anne Wojcicki resigned as CEO. As of now, 23andMe has not confirmed if it is looking to sell to interested bidders.

Jason Koebler-led 404 Media viewed 23andMe's court documents and reported that the biotechnology company is looking to protect itself from the potential damage of dozens of legal cases about past data leaks. Hackers had obtained personal data of about seven million customers in October 2023. According to the 404 Media report, it included 'health-related information based upon the user's genetics'.

The company, in the documents, also stated ...