Facebook Data Scandal: Political Consulting Firm Cambridge Analytica Declares Bankruptcy

Facebook's reputation took a massive hit earlier this year when it was revealed that it had improperly provided user data to UK-based political consulting firm Cambridge Analytica. However, the damage appeared to be much greater in the other direction, as the controversial Cambridge Analytica announced Wednesday that it would cease operations and file for bankruptcy. Cambridge Analytica is shutting down. The firm with ties to Trump's campaign says the Facebook data scandal drove away business. The firm announced its closure in a statement on its website.