Cambridge Analytica to file for bankruptcy

Cambridge Analytica to file for bankruptcy

Cambridge Analytica to file for bankruptcy

"As a result, it has been determined that it is no longer viable to continue operating the business", the statement claims.

The tactics of Cambridge Analytica - whose former vice president, Republican strategist Steve Bannon, later worked for Trump's campaign and in the White House - first came to light in March.

Facebook said it will resume its process of reviewing third-party apps using new, tighter controls after the Cambridge Analytica scandal revealed holes in the social network's data privacy protocols.

It's not clear what percentage of Pennsylvanians who use Facebook were impacted because state investigators have yet to determine how many Facebook users there are in the state, according to information provided by Shapiro's office.

"Cambridge Analytica specialises in disinformation!"

But Cambridge Analytica's announcement left several questions unanswered, including who would retain the company's intellectual property - the so-called psychographic voter profiles built in part with data from Facebook - and whether Cambridge Analytica's data-mining business would return under new auspices.

Julian Wheatland, who announced Cambridge Analytica's closure, is also listed as one of the directors of Emerdata.

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Though Zuckerberg was slow to address the controversy over Cambridge Analytica's data collection at first, he eventually issued a mea culpa through Facebook, accompanied by a media tour, and this week at the company's F8 developer conference promised to allow users to erase collected data, and prevent marketers from collecting it again in the future. In a statement Wednesday, Cambridge Analytica insists it has done nothing wrong and has been "vilified" in the media.

US-based social media giant Facebook has said that almost 5.62 lakh people in India were "potentially affected" by its global data breach involving Cambridge Analytica.

The company was able to amass the database quickly with the help of an app that appeared to be a personality test. "The investigations into their work are vital", said the committee's chair Damian Collins.

The firm shut down with effect from Wednesday and employees have been told to turn in their computers, The Wall Street Journal reported earlier.

According to Emerdata's Companies House record in the United Kingdom, its business involves "data processing, hosting and related activities", while Alexander Nix, the suspended CEO of CA, was appointed as a director in February, only for this to be terminated in April.

Cambridge Analytica did not immediately respond to a request for comment.

However, Cambridge Analytica abused Facebook's system and gathered the data of over 87 million people in total.

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