Court of Appeals nullifies 2018 shutdown order of SEC on Rappler
The Court of Appeals (CA) voided the 2018 shutdown order of the Securities and Exchange Commission (SEC) on Rappler, the online news network said Friday.
“The Securities and Exchange Commission is ordered to restore the Certificate of Incorporation of Rappler, Inc. and Rappler Holdings Corporation in its records and system and withdraw all its issuances and actions made pursuant to its illegal revocation of the same,” said the CA Special 7th Division in a decision promulgated on July 23.
The online news outfit said in its website that it was its biggest victory to date. Maria Ressa, co-winner of the 2021 Nobel Peace Prize, said it has two more cases to hurdle, including a cyberlibel case before the Supreme Court.
Ressa is out on bail and if the High Tribunal rules on the case, she could face a jail term of around six years.
Rappler was accused of violating foreign equity restrictions on media firms when it sold depositary rights to a US firm. The SEC upheld its findings in 2022.
Rappler, in a statement, said: '' This court decision, the latest in a string of court victories for Rappler, is a much-needed reminder that the mission of journalism can thrive even in the line of fire: to speak truth to power, to hold the line, to build a build a better world.'' DMS
