Cambridge Analytica Shuts Operations After Facebook Scandal

Political consulting firm Cambridge Analytica is shutting down. Bloomberg Intelligence’s Jitendra Waral reports.(Source: Bloomberg)

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By Jordan Robertson

May 2, 2018 at 6:45 PM UTC

Updated on

May 2, 2018 at 8:20 PM UTC

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Cambridge Analytica, a data-mining firm embroiled in a scandal over its work for U.S. President Donald Trump’s 2016 campaign, said it’s shutting down all operations effective immediately.

The firm said Wednesday that it has begun insolvency proceedings in the U.K. and is also filing for bankruptcy in the U.S., according to a statement on Cambridge Analytica’s website.