Cambridge Analytica is shutting down, the company said Wednesday.

The political research firm with ties to the Donald Trump campaign has been caught in a whirlwind of privacy and data collection allegations in recent months.

Cambridge Analytica was accused of improperly gaining access to the sensitive user information of as many as 87 million Facebook users.

Its now-ousted CEO, Alexander Nix, was also recorded on hidden camera implying the research firm used manipulation and bribery to learn information on political candidates.

"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," the firm said in a statement.

Cambridge Analytica hired a third-party investigator, Julian Malins, to probe the allegations of wrongdoing. The firm said Wednesday that investigation concluded that the allegations were not "borne out by the facts."

The firm is shuttering in part due to the legal fees associated with that investigation, according to The Wall Street Journal, which first reported the closure.