Cambridge Analytica to shut down following Facebook scandal
- Credit: PA
Cambridge Analytica, the firm at the centre of the Facebook data-sharing scandal, is to shut down, the company has announced.
The UK-based consulting firm was accused of improperly gaining access to the sensitive user information of Facebook users.
In a statement, the firm said: “Over the past several months, 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.
“Despite Cambridge Analytica’s unwavering confidence that its employees have acted ethically and lawfully, which view is now fully supported by Mr Malins’ report [independent investigator Julian Malins], the siege of media coverage has driven away virtually all of the company’s customers and suppliers.
“As a result, it has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the company into administration.”