Cambridge Analytica halts operations following Facebook data controversy: 7 notes

Following accusations of misusing Facebook data, Cambridge Analytica, a data firm that worked for President Donald Trump's 2016 campaign, shut down operations, reports The Wall Street Journal.

Here are seven things to know.

1. The data firm, which is owned by SCL Elections, shut its doors May 2, citing a decline in clients and mounting legal fees from the Facebook controversy.   

2. "Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations," a statement from the company read, according to the WSJ. "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."

3. Cambridge Analytica also said parallel bankruptcy proceedings would soon begin. 

4. Cambridge Analytica has come under fire in recent months over allegations it misused the personal data of millions of Facebook users.

5. Additionally, the company has struggled to come back from a leaked video discussing the potential campaign tactics it would pitch to clients. The leaked video depicted Cambridge Analytica CEO Alexander Nix suggesting to an employee posed as a potential client that he would entrap political opponents with bribes and sex.

6. In March, the company suspended Mr. Nix over the leaked video and launched an investigation into the incident to determine if the entrapment tactics discussed in the video ever occurred. The investigation found Mr. Nix never used that tactic.

7. The company also denies it misused data from Facebook users.

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