Monitor Group, a Cambridge consulting firm founded by Harvard Business School’s Michael Porter that rose to prominence in the 1980s, filed for bankruptcy protection Wednesday as part of a deal to be acquired by Deloitte Consulting. Monitor last year was involved in controversy over a $3 million-a-year fee it accepted to between 2006 and 2008 help to improve the image of Libyan dictator Moammar Khadafy. In 2011, the firm apologized for working with Khadafy.
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