Advertising services company Digital Media Solutions (DMS) has filed for Chapter 11 bankruptcy in Houston. The company, which once had a billion-dollar valuation, has seen a significant downturn in business, particularly from auto insurers, since the pandemic's stay-at-home period ended. The bankruptcy filing lists 30 major creditors, indicating substantial fallout for the lead generation industry. Legal experts speculate that the Telephone Consumer Protection Act (TCPA) may have contributed to DMS's financial troubles. Kirkland & Ellis, the law firm representing DMS, has returned to the Houston court for this significant case.