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Firm behind Facebook privacy scandal to close

Cambridge Analytica's shutdown comes as the firm is losing clients and facing legal fees from the Facebook case.

Posted: May 2, 2018 2:20 PM

NEW YORK (AP) - The data firm at the center of Facebook's privacy scandal is declaring bankruptcy and shutting down.

In a statement, Cambridge Analytica says it has been "vilified" for actions it says are both legal and widely accepted as part of online advertising. The firm says the media furor stripped it of its customers and suppliers, forcing it to close.

Cambridge Analytica sought information on Facebook to build psychological profiles on a large portion of the U.S. electorate. The company was able to amass the database quickly with the help of an app that appeared to be a personality test. The app collected data on tens of millions of people and their Facebook friends, even those who did not download the app themselves.

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2:30 p.m.

A published report says the data firm at the center of Facebook's privacy debacle is closing its doors.

Cambridge Analytica has been linked to Donald Trump's 2016 presidential campaign. The British firm suspended its CEO Alexander Tayler in April amid investigations.

The Wall Street Journal says Wednesday's shutdown comes as the firm is losing clients and facing legal fees from the Facebook case.

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

Cambridge Analytica sought information on Facebook to build psychological profiles on a large portion of the U.S. electorate. The company was able to amass the database quickly with the help of an app that appeared to be a personality test. The app collected data on tens of millions of people and their Facebook friends.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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