Cambridge Analytica to Shut down and File for Bankruptcy

Cambridge Analytica is on its way out.

Well, we all expected this sooner or later. Cambridge Analytica, the science firm involved in the recent Facebook scandal, will no longer be operating in any capacity. The company has filed for bankruptcy, which will trigger insolvency proceedings in the UK. Even though the media accused them of obtaining Facebook user data through shady means, the people behind Cambridge Analytica disagree.

In a recent press release, the company’s representatives stated that employees have acted ethically and lawfully. Apparently, they went out of business because of “unfairly negative media coverage” and “unfounded accusations.”

Internal Investigations.

Following the scandal itself, Cambridge Analytica launched an internal investigation. However, it looks like they have found nothing wrong. Mark Zuckerberg also launched a similar investigation, and his exact statement was the following:

“This doesn’t change our commitment and determination to understand exactly what happened and make sure it doesn’t happen again. We are continuing with our investigation in cooperation with the relevant authorities.”

SCL Elections, which is one of Analytica’s affiliates, has also filed for bankruptcy. Furthermore, SCL Group, which owns both companies, will soon follow. Needless to say, the company has now lost all of its customers. Even though paying the bills is problematic for Cambridge Analytica, the firm still has enough money to pay severance packages for its employees.