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Logo of 'Cambridge Analytica' is seen on the screen of an iPhone. Photo: Chesnot/Getty Images

Cambridge Analytica has announced it's closing operations Wednesday and has filed for bankruptcy in the wake of revelations that it misused Facebook data to build a system to predict and influence choices at election polls.

The details: The Wall Street Journal, which first reported the closure, said this comes as the company is losing clients and facing growing legal fees in the ongoing probe over the misuse of Facebook data. The company reportedly told employees to return their computers.

The backdrop: The data firm, which worked for President Trump’s 2016 campaign, faced scrutiny after investigations from The New York Times and The Observer revealed it had improperly used 50 million Facebook profiles of U.S. voters without authorization.

The closure comes more than a month after the company suspended CEO Alexander Nix following a report alleging that the firm used bribery and prostitution to entrap politicians in compromising situations. The firm also launched a probe to determine if it had engaged in wrongdoing.

  • Business Insider reported in March that some major players behind Cambridge Analytica have created a new company with Nix as its director and U.S. businessman, and staunch Trump supporter Erik Prince as chairman. Citing public filings at Britain's Companies House, the company, Emerdata, was incorporated last August, per Business Insider. The company's mission is unclear.

Go deeper

Sen. Sheldon Whitehouse under scrutiny for elite club affiliations

Sen. Sheldon Whitehouse during a Senate hearing on Capitol Hill in February. Photo: Susan Walsh-Pool/Getty Image

Sen. Sheldon Whitehouse (D-R.I.) said in a statement Wednesday that he is a member of an exclusive Rhode Island sailing club that lacks diversity.

Why it matters: Whitehouse has repeatedly spoken out against systemic racism and come under scrutiny this week for his family's affiliation with elite clubs. This is the second such club accused of lacking diversity that the senator has been linked to in recent days

3 hours ago - Politics & Policy

Scoop: Border Democrats want migrants vaccinated

Rep. Filemon Vela (D-Tex.) Photo: Chip Somodevilla/Getty Images

Some Democrats representing border districts want President Biden to vaccinate migrants crossing into the U.S. — especially if he lifts public health restrictions that have prevented them from claiming asylum on American soil.

Why it matters: Inoculating migrants treads a fine line of protecting the U.S. population while possibly incentivizing more migration with the offer of free COVID-19 vaccines. Republicans are likely to pounce on that.

3 hours ago - World

State Dept. fears Chinese threats to labor auditors

A space for media is designated by Chinese authorities near a mosque in the Xinjiang region of China. Photo: Greg Baker/AFP via Getty Images

The State Department is concerned organizations performing supply-chain audits in China are coming under pressure from Chinese authorities.

Why it matters: U.S. law prohibits importing products made through forced labor, but it's becoming increasingly difficult to verify whether products from China are tainted.