The Court of Appeals (CA) has ordered the Securities and Exchange Commission (SEC) to comment on a petition of online news website-turned-blogger Rappler.
The CA 13th Division, in a resolution dated February 7, 2018, ordered the SEC to file its comment within 10 days from notice and the petitioners were given five days to reply to the petition.
“Without necessarily giving due course to the petition, the court resolves to direct respondent to file comment thereon [not a motion to dismiss], within 10 days from notice. Petitioners are given 5 days from receipt of the required comment to file a reply thereto,” the ruling stated.
The resolution was approved by its ponente, CA Justices Rafael Santos, along with CA Justices Socorro Inting and Apolinario Bruselas.
In addition, both parties were ordered to notify the court of any other pending cases involving the same issues.
“The parties are required to promptly notify this court of any other cases or proceedings involving the same parties and issues in the court or other courts within 5 days from knowledge thereof, pursuant to the directive of the Supreme Court in AM No. CA 13-51-J dated July 2, 2013,” the resolution also stated.
Santos will make his study and recommendation on the plea of Rappler to stop the SEC from revoking its license to operate.
The agency had revoked the certificate of incorporation of Rappler Inc. and Rappler Holdings Corporation (RHC) allegedly for violating the Constitution and foreign equity restrictions in mass media.
It ruled that Rappler violated the Foreign Equity Restrictions in Mass Media enshrined in the 1987 Constitution.