MANILA -- News website Rappler on Friday insisted it was "completely Filipino-owned" after the Court of Appeals upheld the revocation of its articles of registration.

The Securities and Exchange Commission last Jan. 11 revoked Rappler's registration for violating the constitutional requirement for mass media to be 100-percent Filipino owned. The CA upheld the SEC on Thursday.

• Court of Appeals upholds SEC order vs Rappler

Rappler released this statement on Friday:

We hoped for the best decision, as Rappler is – on paper and in reality – a completely Fiipino-owned company.

In its July 26, 2018 decision, the Court of Appeals sided with Rappler on 3 key issues:

First, that 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, the SEC needs to reinvestigate the case, given Omidyar's donation of its PDRs to Rappler's staff last February 19.

We are here for the long haul – with you, inspired and re-invigorated by the mission of journalism.

For Rappler, it is business as usual.

Thank you for standing with Rappler. Thank you for standing for freedom.