Cambridge Analytica files for bankruptcy after losing ‘virtually all’ customers

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Cambridge Analytica, the agency on the centre of a Fb privateness scandal, has filed for chapter after dropping “just about all” of its clients.

The political consulting firm, which carried out work for Donald Trump’s 2016 election marketing campaign, submitted a petition for Chapter 7 chapter in New York late on Thursday. 

A Chapter 7 process is used when an organization is closing down and liquidating its belongings to repay its collectors.

Bannon ‘sought to suppress black vote’ at Cambridge Analytica

In a press release on its web site earlier this month, Cambridge Analytica stated that it might stop buying and selling as a result of the scandal had “pushed away just about the entire firm’s clients and suppliers”.

The agency is accused of improperly utilizing information from tens of millions of Fb customers to affect voters within the US presidential election and the EU referendum within the UK.

The Go away.EU marketing campaign had beforehand stated it labored with the agency, however has since retracted the declare, saying that no contract was signed and no work carried out.

This week, a whistleblower accused former Cambridge Analytica director Steve Bannon of searching for to make use of Fb profile information to advertise a “tradition battle” and persuade black folks to not vote within the 2016 US presidential election.

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Christopher Wylie, who labored for Cambridge Analytica’s British-based dad or mum firm SCL, stated Mr Bannon, “noticed cultural warfare as a way to create enduring change in American politics”.

Mr Bannon left Cambridge Analytica in 2016 to develop into Donald Trump’s chief strategist. He left the White Home in August final 12 months.

The corporate acquired profile info from as much as 87 million Fb customers that had been harvested in 2014 by information scientist Aleksandr Kogan by a character check app.

On the time, Fb allowed builders of apps on its platform to gather information not solely from those that had straight consented, but in addition from mates of these folks. It has since tightened up its information coverage.

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