Adds “relevant parties” should observe sub judice rule and “refrain from making unnecessary pronouncements through media”
(Eagle News) — The act of converting Omidyar Network’s $1.5-million investment in Rappler into a donation should be coursed through the Court of Appeals, the Securities and Exchange Commission said on Thursday.
In a statement posted on its website, the SEC said this was because its decision to revoke Rappler’s license to operate on the basis it violated constitutional restrictions of foreign ownership in media was being appealed before the appellate court.
“Any action on this supervening event must (therefore) be coursed through the Honorable Court through an appropriate pleading or manifestation,” the SEC said.
According to the SEC, so far, it was “unaware of any such pleading or manifestation officially conveying this information to the (CA) and for what specific relief.”
“In view of the foregoing, the (SEC) would like to remind all relevant parties to abide by the sub judice rule and refrain from making unnecessary pronouncements through the media when recourse to judicial processes is readily available,” the SEC said.
On Wednesday, Omidyar announced its intention to make the donation to help Rappler, even as it called the SEC decision “unwarranted.”
But Presidential Spokesperson Harry Roque on Thursday, March 1, said Omidyar’s announcement only proves that Rappler indeed violated the constitutional provision.
“I think they acknowledge that their PDR contravenes the Constitution and our existing laws…. That’s an admission and we’re happy they admitted because now we can say that even Rappler now admits they’re not victims of censorship, they’re not victims of infringement of press freedom,” Roque said.