Cambridge Analytica Announces Closure, Files for Bankruptcy
Cambridge Analytica, the controversial firm embroiled in the mishandling of Facebook user data, has announced its shut down on Wednesday. Its British parent SCL Elections Ltd. will also be shuttered as the data analytics company reported a significant decline in business. In a press release, Cambridge Analytica blamed negative media coverage for the data scandal. It lost suppliers and clients while facing mounting legal fees, prompting the company to file for insolvency in the UK and begin bankruptcy proceedings in the US. Moreover, the company stated that it will meet…
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