London, May 3 (RHC)-- Cambridge Analytica, a London-based political consulting firm that has been mired in controversy over its alleged improper use of Facebook users’ data, announced on Wednesday that it would immediately cease all operations.

The company said in a press release that it had 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.”

Both Cambridge Analitica and its parent company, SCL Elections, filed applications to commence insolvency proceedings in the United Kingdom, according to the release, which said parallel bankruptcy proceedings would soon begin in the United States.

Various media outlets reported in March that the company used the data of millions of Facebook users to build a software program whose aim was to help boost Trump’s presidential bid.

Facebook CEO Mark Zuckerberg said in testimony last month before the US Congress that the political consulting firm had accessed the personal data of 87 million users.

University of Cambridge lecturer Aleksandr Kogan has admitted that he designed a personality quiz Facebook app to harvest users’ data without their explicit consent.

He subsequently shared that data with CA.