Cambridge Analytica shutting down

Cambridge Analytica, the political consultancy at the centre of the Facebook data-sharing scandal, is shutting down.

The firm was accused of improperly obtaining personal information on behalf of political clients.

According to Facebook, data about up to 87 million of its members was harvested by an app and then passed onto the political consultancy.

The social network said its own probe into the matter would continue.

"This doesn't change our commitment and determination to understand exactly what happened and make sure it doesn't happen again," said a spokesman.

"We are continuing with our investigation in cooperation with the relevant authorities."

Clarence Mitchell, a spokesman for Cambridge Analytica, referred the BBC to a statement on the firm's website.

"Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the company's efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas," it said.

"Despite Cambridge Analytica's unwavering confidence that its employees have acted ethically and lawfully... the siege of media coverage has driven away virtually all of the company's customers and suppliers.

"As a result, it has been determined that it is no longer viable to continue operating the business."

The statement added that its parent company SCL Elections was also commencing bankruptcy proceedings.

A journalist, whose investigation for the Observer newspaper first exposed the data privacy scandal, has suggested that the public remains sceptical.

The chair of a UK parliament committee investigating the firm's activities also raised concerns about Cambridge Analytica and SCL Elections' move.

"They are party to very serious investigations and those investigations cannot be impeded by the closure of these companies," said Damian Collins MP.

"I think it's absolutely vital that the closure of these companies is not used as an excuse to try and limit or restrict the ability of the authorities to investigate what they were doing."