Cambridge Analytica Shuts All Operations After Facebook Scandal

Cambridge Analytica, a data-mining firm embroiled in a scandal over its work for U.S. President Donald Trump’s 2016 campaign, said it’s shutting down all operations effective immediately.

The firm said May 2 that it has begun insolvency proceedings in the U.K. and is also filing for bankruptcy in the U.S., according to a statement on Cambridge Analytica’s website.

The company said it lost “virtually all” customers and suppliers after The New York Times, The Observer of London and other publications reported Cambridge Analytica improperly obtained information from tens of millions of Facebook Inc. users. The breach helped the company develop ...