Cambridge Analytica declares bankruptcy, shuts down

Source: Washington Examiner | May 2, 2018 | Kelly Cohen

Cambridge Analytica, the political research firm with ties to President Trump’s 2016 campaign, is shutting down.

The company said Wednesday that its parent company, SCL Group, will also be shuttered.

According to a company statement, SCL and Cambridge Analytica’s affiliates in the United Kingdom have commenced insolvency proceedings.

“Additionally, parallel bankruptcy proceedings will soon be commenced on behalf of Cambridge Analytica LLC and the certain of the Company’s U.S. affiliates in the United States Bankruptcy Court for the Southern District of New York,” reads the statement.

Cambridge Analytica has been under fire in recent months after it was revealed it improperly obtained the information of as many as 87 million Facebook users ahead of the 2016 presidential election.

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