Cambridge Analytica, a data firm that worked for President Donald Trump’s 2016 campaign, is shutting down following allegations about its misuse of Facebook data and the campaign tactics it pitched to clients. In March 2018, the company suspended its chief executive, Alexander Nix, and said it was launching an independent investigation to determine if the company engaged in any wrongdoing in its work on political campaigns. The company decided to close its doors because it was losing clients and facing mounting legal fees in the Facebook investigation. SCL Group and SCL Elections, which are affiliated with Cambridge Analytica, also are shutting down in the U.S. and the U.K. Cambridge Analytica has denied wrongdoing in the Facebook incident. The company said in its statement that despite the efforts to correct the record, it “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.”

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Wall Street Journal