The political research firm accused of improperly gaining access to the sensitive user information of as many as 87 million Facebook users is shutting down, NBC News confirmed.
Cambridge Analytica, which had ties to Donald Trump's 2016 campaign, is shutting down following a whirlwind of privacy and data collection allegations in recent months, CNBC reported.
The firm is shuttering in part due to mounting legal fees associated with its investigation into whether there had been any wrongdoing with regard to Facebook data, according to the Wall Street Journal who first reported the move.
"Despite Cambridge Analytica’s unwavering confidence that its employees have acted ethically and lawfull the siege of media coverage has driven away virtually all of the company’s customers and suppliers," the company wrote in a statement. "As a result, it has been determined that it is no longer viable to continue operating the business, which left Cambridge Analytica with no realistic alternative to placing the company into administration."