UK based marketing analytics company Cambridge Analytica which had involved in massive Facebook data privacy scandal, announced on Wednesday that it was immediately shutdown all its offices following the bankruptcy.
CA (Cambridge Analytica) also said that it would file for insolvency in the United States and Britain after failing to recover from the Facebook data scandal. a move likely to hit its operations in India as well.
The decision is taken due to intense pressure on the company after major allegations emerged that it might have harvesting private data of up to 87 million Facebook users.
An associate of the British firm Strategic Communication Laboratories (SCL), Cambridge Analytica owns offices in London, New York, Washington D.C., as well as Brazil and Malaysia.
First time it became embroiled in a massive data breach scandal in March when Canadian whistleblower Christopher Wylie, who is a former analyst of the firm revealed that it had formed psychological profiles of millions of Facebook users via a personality prediction app.
Meanwhile, firm asserted that it has appointed lawyers to keep an eye on the insolvency process in Britain and would be following suit in the United States.