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The Giants waived Ratley on Tuesday, Michael Eisen of the team's official site reports.
Ratley was targeted once in this past Sunday's loss to the Cowboys, but he failed to reel it in. The 25-year-old wide receiver recorded four catches for 63 yards through the first five games of the season. The Giants opted to add practice squad receiver Austin Mack to the active roster in Ratley's place. Ratley will look for a depth role elsewhere.
