Sa 29-pahinang desisyon na may petsang Enero 11, iginiit ng SEC na nilabag ng Rappler, Inc. at ng shareholder nito na Rappler Holdings Corp. ang probisyon ng Konstitusyon kaugnay ng pagbabawal sa mga banyaga na magmay-ari ng mass media.
Pinirmahan ang desisyon nina SEC head Teresita Herbosa at tatlong SEC Commissioner na sina Antonieta Ibe, Ephyo Luis Amatong, ant Emilio Aquino. Hindi naman sumali si Commissioner Blas James Viterbo sa naging desisyon.
“There was substantial evidence that respondents intentionally created an elaborate scheme, upon which its receipt of over a million dollars from a foreign investor would be theoretically defensible – the investor would never own stock and would never receive dividends and he would never become an officer or director but respondents would still be able to give him his money’s worth in the form of negative control and cash contributions, all through a private contractual arrangement,” sabi ni SEC.