Cambridge Analytica, the UK marketing analytics firm at the heart of the Facebook data scandal, announced Wednesday it was "immediately ceasing all operations" and filing for insolvency in Britain and the United States.
"It has been determined that it is no longer viable to continue operating the business," the company, accused of misusing tens of millions of Facebook users' data, said in a statement.
Cambridge Analytica's chief executive officer Alexander Nix gives an interview during the 2017 Web Summit in Lisbon. File photo - November 09, 2017
