The news was reported earlier by The Wall Street Journal. The company soon said in a press release that the affiliated United Kingdom-based company SCL Elections has filed for insolvency, and that bankruptcy proceedings will begin soon for Cambridge Analytica as well. The data analytics company’s United Kingdom-based parent organization, SCL Group, will also be shuttered, according to the Journal.
Cambridge Analytica, which gained fame by working on data analytics for the Trump presidential campaign, was engulfed by controversy after reports that it obtained data on millions of Facebook users through a seemingly innocuous personality test app. The revelation has triggered government hearings in both the United Kingdom and the United States and forced Mark Zuckerberg to testify before Congress. Cambridge Analytica’s CEO, Alexander Nix, resigned after further reporting showed him discussing the possibility of entrapping politicians for clients.
https://ca-commercial.com/news/cambridge-analytica-and-scl-elections-commence-insolvency-proceedings-and-release-results-3
Earlier today, SCL Elections Ltd., as well as certain of its and Cambridge Analytica LLC’s U.K. affiliates (collectively, the “Company” or “Cambridge Analytica”) filed applications to commence insolvency proceedings in the U.K. The Company is immediately ceasing all operations and the boards have applied to appoint insolvency practitioners Crowe Clark Whitehill LLP to act as the independent administrator for Cambridge Analytica.
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After the far-reaching scandal over mishandled Facebook user data, Cambridge Analytica is shutting down.
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