Cambridge Analytica Announces Immediate Closure after Facebook Data Controversy

Political consulting firm Cambridge Analytica and its parent company SLC group today announced that it was shutting down. In a statement, the company announced that it is immediately closing all the operations. The shutdown of Cambridge Analytica was reported by Gizmodo. They got the documents which included directive to an American employee to return the keycards as soon as possible.

Cambridge Analytica was fighting the accusations of misusing Facebook User’s Data

This news was also confirmed by Nigel Oakes, SLC Group Founder. This is not surprising as Cambridge Analytica was fighting the accusations of misusing Facebook User’s Data. It was also said that it misused users privacy to support president Trump Campaigning.

In a statement, the company denies the wrongdoing:

“Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the Company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas.”

The company kept on telling that it’s employees never indulged in any unlawful activity however still finally announced its closure. Cambridge Analytica suspended it’s chief executive, Alexander Nix in March and also carried an investigation to check if someone from the company is indulged in wrongdoings. After the investigation, Cambridge Analytica released the following statement:

The Company has full confidence that its employees have always acted ethically and lawfully

Well, let’s see whether this story will take U-Turn.

Also Read: Actual No. of Facebook Users Affected by Data Leaks is 87 M Not 57 M