Cambridge Analytica closing after Facebook data harvesting scandal

Cambridge Analytica, the data firm at the centre of this year's Facebook privacy row, is closing and starting insolvency proceedings. The company has been plagued by scandal since the Observer reported that the personal data of about 50 million Americans and at least a million Britons had been harvested from Facebook and improperly shared with Cambridge Analytica. Cambridge Analytica denies any wrongdoing, but says that the negative media coverage has left it with no clients and mounting legal fees. "Despite Cambridge Analytica's unwavering confidence that its employees have acted ethically and lawfully, the siege of media coverage has driven away virtually all of the Company's customers and suppliers," said the company in a statement, which also revealed that SCL Elections Ltd, the UK entity affiliated with Cambridge Analytica, would also close and start insolvency proceedings. "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."