Cambridge Analytica Shutters Amid Facebook Scandal

Cambridge Analytica Shutters Amid Facebook Scandal
SHARE
THIS



Political consulting firm Cambridge Analytica has closed its doors and filed insolvency amid the ongoing Facebook data breach scandal.

The firm, which is at the centre of the scandal and has been touted as the reason Trump got into power, has confirmed it has ceased all operations effective immediately.

As well as ceasing operations, Cambridge Analytica has also filed bankruptcy in New York, leading to the closure of its New York and Washington offices.

The firm has been embroiled in drama since Trump got into office and was founded by the President’s former advisor, Steve Bannon.

Cambridge Analytica released a statement announcing the closure overnight, which pointed to the continual ‘vilification’ of the firm as the cause of its insolvency.

It read, “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 firm added in the statement it had hired Queen’s Counsel Julian Malins to probe accusations of wrongdoing by Cambridge Analytica.

According to Cambridge, Malins found no wrongdoing.

Speaking on the probe, Malins said, “I had full access to all members of staff and documents in the preparation of my report.”

“My findings entirely reflect the amazement of the staff, on watching the television programmes and reading the sensationalistic reporting, that any of these media outlets could have been talking about the company for which they worked.”

“Nothing of what they heard or read resonated with what they actually did for a living.”

Despite the evidence of no ‘wrongdoing’, Cambridge Analytica said it was forced to shutter as “the siege of media coverage has driven away virtually all of the Company’s customers and suppliers.”

“As a result, it has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the Company into administration,” it added.

Please login with linkedin to comment

Cambridge Analytica Trump

Latest News

The Best Time Of The Day To Check Your Emails
  • Opinion

The Best Time Of The Day To Check Your Emails

Bombarded by too many emails? Are the the little buggers taking up more of your time than they effectively should? Well, let Inventium founder and B&T regular Dr Amantha Imber (pictured below) pass on her sage words on tackling your electronic mail avalanche… I have a confession to make. I love checking email. I love how productive I feel smashing through […]

Opinion

by B&T Magazine

B&T Magazine
Culture As A Competitive Advantage
  • Opinion

Culture As A Competitive Advantage

Emma Bannister (pictured below) is founder and CEO of Presentation Studio, APAC’s largest presentation communication agency and author of the book Visual Thinking: How to transform the way you think, communicate and influence with presentations. In her latest B&T post, Bannister says a good office culture brings a myriad of advantages you probably have not even […]

Opinion

by B&T Magazine

B&T Magazine
M&C Saatchi’s This. Film Studio Announces Nat Geo Doco Series On Rhino Conservation 
  • Campaigns

M&C Saatchi’s This. Film Studio Announces Nat Geo Doco Series On Rhino Conservation 

M&C Saatchi Group’s film and television production studio THIS. has revealed its first major project, a two-part documentary series in partnership with National Geographic, Cisco Systems, Canon Australia and Land Rover South Africa. The documentary series, hosted by cricket legend Kevin Pietersen and outback wrangler Matt Wright with conservationist and Canon Australia Photographer, Julia Wheeler, […]

Ovarian Cancer Australia Appoints 10 Feet Tall As Its Integrated Agency Partner
  • Media

Ovarian Cancer Australia Appoints 10 Feet Tall As Its Integrated Agency Partner

Following a competitive pitch process, 10 feet tall is standing proud as the newly appointed agency for Ovarian Cancer Australia (OCA). The agency’s response to a complex brief included a strong multifaceted brand platform that spans all media and includes mainstream media working in conjunction with fundraisers and activations for the charity throughout the calendar […]

Edge Adds BASF Seeds To Client Stable
  • Advertising
  • Media

Edge Adds BASF Seeds To Client Stable

Independent agency Edge has announced its Melbourne office has been appointed to deliver integrated services for agricultural brand BASF Seeds, following a competitive pitch. Edge’s remit spans strategy, creative, advertising, digital and media for BASF Seeds, its InVigor products and its MySeed platform. Dan King, managing director of Edge Melbourne, said the agency was delighted […]

Cropped shot of two men working together with laptop and notepad in a minimalistic workplace enviroment with desklamp and plant
  • Media

Applications Open For 2018 Copy School

Applications have opened for the 2018 Copy School in Sydney, sponsored by NewsMediaWorks, with another world-class line-up of guest creative tutors. Copy School is designed to encourage the best quality copywriting across all channels and engages some of Australia’s leading advertising creative directors and copywriters, as well as news media executives, to pass on their […]