After Privacy Breach, Cambridge Analytica Files for Bankruptcy, Shutters
Cambridge Analytica ceased operations Wednesday after filing for bankruptcy in the U.K., parent company SCL Elections said, citing a “siege of media coverage” that has driven away “virtually all” customers and suppliers. Cambridge Analytica is accused of purchasing private data…
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of some 87 million Facebook users in support of President Donald Trump’s 2016 campaign (see 1804100054). The company claimed Cambridge Analytica acted ethically and lawfully, which it said is supported by a report from Queen’s Counsel Julian Malins. "Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas,” the company said. Parallel bankruptcy proceedings will begin soon in the U.S., it said.