MANILA, Philippines – Rappler CEO and Executive Editor Maria Ressa issued on Friday, July 27, this statement on behalf of Rappler.
First, that the SEC's revocation of our certificate of incorporation is wrong. Omidyar never exercised its right to the allegedly questionable clause in its Philippine Depositary Receipt (PDR) and later even waived its right under that clause, according to the CA.
Second, that the SEC failed to apply its own rules and practices to Rappler. Worse, the SEC went against the mandate of the law by not giving Rappler an opportunity to amend or correct any perceived error before revoking its certificate of incorporation.
Third, that the SEC needs to reinvestigate the case, given Omidyar's donation of its PDRs to Rappler's staff last February 19.
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