CAMBRIDGE ANALYTICA JUST WENT OUT OF BUSINESS. DON’T WORRY, ITS OWNERS AND EXECUTIVES HAVE ALREADY STARTED A NEW COMPANY

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Cambridge Analytica, the data company at the center of an international controversy over how it used Facebook to obtain personal data from tens of millions of people, is shutting down.

The company, which had consulted on Donald Trump’s 2016 presidential campaign, released a statement announcing it had begun legal proceedings to wind down its operations in the UK and the US. Cambridge released a report it commissioned from Julian Malins, a prominent UK lawyer, that absolved the company of any wrongdoing.

Cambridge said “unfairly negative media coverage” had sent the company into a death spiral. “Despite Cambridge Analytica’s unwavering confidence that its employees have acted ethically and lawfully, which view is now fully supported by Mr. Malins’ report, the siege of media coverage has driven away virtually all of the Company’s customers and suppliers,” the statement reads. “As a result, it has been determined that it is no longer viable to continue operating the business.”

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