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Cambridge Analytica Not Dissolved But Merged
04 May 2018, 07:16 | Bernice Figueroa
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After the announcement, Britain's data regulator said it would continue civil and criminal investigations of the firm and will pursue "individuals and directors as appropriate" despite the shutdown.
Many media reports suggested the end of the dubious Cambridge Analytica, Wednesday, but the shady data mining firm that gained prominence, known for harvesting and mining information on people to aid political campaigns globally is not going anywhere, and in fact has been merged in a previously existing Emerdata.
The company at the center of the Facebook privacy scandal, political consultancy Cambridge Analytica, is going out of business. The last date for the two companies to respond is May 10.
They, however, declined to divulge further details in the matter, saying that both Facebook and Cambridge Analytica have time till May 10 to send written responses to official questioning.
Cambridge Analytica always denied wrongdoing and Mr Trump's campaign has said it did not use its data.
Cambridge Analytica said it has filed papers to begin insolvency proceedings in the United Kingdom and will seek bankruptcy protection in a federal court in NY.
The ousted Cambridge Analytica's CEO, Alexander Nix was listed as a director of Emerdata in February, until the firm made a decision to severe ties with him in March. "The investigations into their work are vital", said the committee's chair Damian Collins.
Cambridge Analytica said Wednesday that it's declaring bankruptcy and shutting down.
The company added that certain US affiliates, including the New York-based division hired in 2016 by then-candidate Donald Trump's campaign team, would be shutting down as well.
Facebook has informed the government that "only 335 people" in India were directly affected through the installation of an app and another 562,120 people were "potentially affected" as friends of those users. We need to make sure their shut down is not just some rebranding or a way to hide from investigations.
It's not clear what percentage of Pennsylvanians who use Facebook were impacted because state investigators have yet to determine how many Facebook users there are in the state, according to information provided by Shapiro's office.
"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", it added.
Cambridge Analytica sought information on Facebook to build psychological profiles on a large portion of the USA electorate.
The data his firm used was reportedly gathered in early 2014 through an app called "thisisyourdigitallife", which was built by a Russian-American researcher at Cambridge University called Aleksandr Kogan. Facebook has since apologised and tightened its privacy restrictions.
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