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Cambridge Analytica Shuts Down Amid Scandal Over Use of Facebook Data (gizmodo.com)

Posted by BeauHD on from the what-goes-around-comes-around dept.

Gizmodo reports that Cambridge Analytica and its parent company, the SCL Group, are shutting down. "The news was announced during a conference call led by Julian Wheatland, the current chairman of the SCL Group who was reportedly tapped to take over as Cambridge Analytica's next CEO," reports Gizmodo. "Both Cambridge Analytica and SCL Elections will now close their doors." From the report: During the call, Wheatland said that the board determined that rebranding the company's current offerings in the current environment is "futile." Cambridge Analytica and SCL have offices in London, New York City, Arlington, Virginia, and Washington, D.C. The conference call was originally scheduled for Tuesday morning, but was repeatedly pushed back until early Wednesday afternoon, ultimately getting rescheduled more than half a dozen times. In explaining the decision to close the offices, Wheatland cited the ongoing investigations into Cambridge Analytica's massive data harvesting scandal, damage to the company's reputation, and loss of clients. In March, Britain's information commissioner announced that she was seeking a warrant to investigate any misconduct by the data analytics firm, looking to search both its offices and its servers. UK authorities raided the London office later that month, but have yet to release their findings. Meanwhile, embattled former CEO Alexander Nix refused to testify before the British Parliamentary media committee regarding the firm's misuse of Facebook user data.

3 of 67 comments (clear)

  1. Sale by 110010001000 · · Score: 4, Interesting

    Are they having a 50% off going-out-of-business sale for all of your data?

    1. Re:Sale by GregMmm · · Score: 3, Interesting

      Absolutely! They have to. If this is an asset (which this data most certainly is) they it must be auctioned off to pay off debt. At this point the data is just like a chair they own in the office.

      By the way, it will be the highest bidder, so if it's 50% off that after they marked it up 100%!!

    2. Re:Sale by AmiMoJo · · Score: 1, Interesting

      That data is worthless right now, because it is under active investigation by the ICO. Anyone who bought it would instantly become part of that investigation.

      --
      const int one = 65536; (Silvermoon, Texture.cs)
      SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC