Cambridge Analytica, the data science firm at the center of the recent Facebook privacy scandal, filed bankruptcy filings and will close its doors. This will trigger an insolvency proceeding in the UK and the company will immediately cease all operations.
Their fall follows allegations that the company improperly obtained information about Facebook users and used, among other things, to influence the 2016 US presidential election in favor of Donald Trump. In a press release, the company said it still believed that "its employees acted ethically and legally." Rather, they blamed "unfairly negative media coverage" and "unfounded accusations".
They stated that the company had launched an internal investigation as a result of the incident and found that they had done nothing wrong. Facebook, whose CEO Mark Zuckerberg recently appeared before Congress on these privacy issues, has also launched an internal investigation. In a statement, they said that "this does not change our commitment and our determination to understand exactly what has happened and to ensure that it does not happen again. We continue our investigation in cooperation with the authorities. competent. "
One of the Cambridge Analytica affiliates, SCL Elections, also filed for insolvency. The Wall Street Journal reported that the parent company of both companies, SCL Group, is also losing momentum.
Cambridge Analytica kidnapped its CEO last March, after cassettes were presented to him discussing ways to influence the elections and politicians, but that did not do much to stem the tide. l & # 39; hemorrhage. The company lost almost all of its customers and suppliers as a result of Facebook's incident, which prevented them from paying their bills. However, they have enough money in reserve to pay severance pay for their employees.
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