Cambridge Analytica closing operations in wake of scandals

Cambridge Analytica
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.