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The Securities and Exchange Commission has ordered the shut down of online news organization Rappler, its CEO Maria Ressa announced Wednesday, June 29.
During the East-West Center international media conference in Hawaii, Ressa shared Rappler’s response to the order.
“In an order dated June 28, our Securities and Exchange Commission affirmed its earlier decision to revoke the certificates of incorporation of Rappler Inc and Rappler Holdings Corporation. We were notified by our lawyers of this ruling that effectively confirmed the shut down of Rappler,” the statement read.
A copy of the order has yet to be made public.
The Nobel Peace Prize laureate said they will appeal the decision.
“What does this mean? We have existing legal remedies all the way up to the highest court of the land. It is business as usual for us since in our view, this is not immediately executory without court approval,” she said.
"Clarity, agility, sobriety. Review our drills and the tasks assigned to you. Meantime, it is business as usual for us. We will adapt, adjust, survive, and thrive."
Breaking News❗️:@mariaressa announces the Securities and Exchange Commission affirmed its earlier decision to revoke the certificates of incorporation of Rappler Inc & Rappler Holdings Corporation.#EWCMedia pic.twitter.com/EgnKRYY5c2— EWC Seminars (@EWCSeminars) June 28, 2022
To recall, the SEC in 2018 ordered the revocation of Rappler's business registration over questions on foreign ownership. The news site has long addressed the issue before this.