The Securities and Exchange Commission (SEC) ordered the revocation of Rappler’s certificate of incorporation on alleged violations to constitutional restrictions on foreign ownership of mass media.

According to the SEC, violations by the online news site were due to investment from the Omidyar Network, a fund created by eBay founder and American citizen Pierre Omidyar.

The SEC en Banc claimed Rappler, Inc. and Rappler Holdings Corporation are both liable for  constitutional and statutory violations.

In response, Rappler issued a statement saying they “acted in good faith and adhered to the best standards.”

They also called the SEC’s kill order, revoking Rappler’s license to operate, the “first of its kind in history – both for the commission and Philippine media.”

“We have consistently been transparent and above-board in our practices every year since we incorporated in 2012,” the news organization insisted.

They also accused the administration of President Rodrigo Duterte of harassment and expressed intent to contest the ruling through all available legal processes.

The National Union of Journalists in the Philippines (NUJP) also expressed outrage and echoed claims of harassment.

“The SEC has apparently decided to reject Rappler’s contention that its foreign investors merely placed money in the outfit but do not own it,” the NUJP said in a statement./DGB, WDJ