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Cambridge Analytica closing operations

Posted in World

Published on May 07, 2018 with No Comments

Cambridge Analytica (CA), the data firm embroiled in a controversy over its handling of Facebook Inc user data, and its British parent firm SCL Elections Ltd are shutting down immediately, the company has said.

SCL Elections and CA will begin bankruptcy proceedings, the firm said, after losing clients and facing mounting legal fees in the controversy over reports the company harvested personal data about Facebook users beginning in 2014.

“The siege of media coverage has driven away virtually all of the Company’s customers and suppliers,” the company’s statement said. “As a result, it has been determined that it is no longer viable to continue operating the business.” Allegations of improper use of data on 87 million Facebook users by CA has hurt the shares of the world’s biggest social network.

 

 

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