The only way to ensure that a PPA is "safe": Download the source packages published in that repository and check the source code contained in these source packages. Also, before installing updates on your machine, you would have to re-check the PPA to see if a new source package has been uploaded and audit that new source code.
Obviously, most users are unable to do that because they lack the skills required for a security audit. And it would be very time-consuming.
If you installed at least one package from that PPA (either through apt-get install, or apt-get upgrade), it is theoretically possible that your system is now infected, even after you apt-get removed that package. Packages are installed using root (administrator) privileges, so they can harm your system in any conceivable way. Usually, the packages are not harmful though. As far as I know, nobody attempted to infect Ubuntu systems through PPAs yet.
After doing add-apt-repository, you should remove the PPA if you no longer want it. If it contains malicious packages, this is however not a safe way to revert to a clean state.
How can PPAs be removed?
If we assume that there was a malicious package installed on your system, the only way to be sure to get rid of an infection is to re-install the system completely, or revert to an older backup of your system.