Ridsdale, who appeared at a brief hearing in Cardiff Magistrates Court today, had faced two charges under the Consumer Protection from Unfair Trading Regulations 2008 and one under the Fraud Act 2006.
In December 2009, Ridsdale had offered Bluebird fans who bought a season ticket a full refund in the event they were promoted with the promise of money for new players in the January.
But Cardiff Council’s counsel presented a letter to court saying they would be offering no evidence in relation to the charges brought previously.
David Huw Williams QC, defending, said: “This has been a particularly onerous and troubling matter for Mr Ridsdale and he has, quite properly, wished to attend to see the case brought by the prosecution dismissed today.”
Ridsdale vigorously rejected the claims then, and has now said in a statement that Trading Standards' decision not to enter any evidence was a complete vindication of the ticketing policy at his former club.
"The decision by the City of Cardiff Trading Standards Agency to offer 'no evidence' in relation to the charges previously brought to the Courts is a complete vindication of my publicly stated position that there was never a case to answer," he said.
"It is most unfortunate that this case was brought before the courts and that it has brought disruption to my personal life and unnecessary reputational damage. I spent five years in the wonderful city of Cardiff and sincerely believe that my contribution to saving the football club from financial meltdown, building both the new stadium and training ground and taking Cardiff City to three Wembley appearances, speaks for itself.
"I am proud of my contribution to this city and walk away from the Courts completely innocent of any wrongdoing. I now go back to Plymouth to finish the job that I started earlier this year in ensuring, both, their survival and new ownership. In completing this task, just like at Cardiff, I will have proved my critics and doubters wrong."