The ERA-1+ is unconditionally stable. This means it's stable over all input/output impedances, and reflections from the source/load can't cause it to oscillate.
The amplifier shpould not oscillate, but a poorly terminated source can still make it ring.
With the rather short distance between the diode and amplifier reflections are at really high frequencies (e.g. 5 GHz range). If there are really reflections with a significant delay, they may be on the output side, e.g. from probing the signal. What is the frequency in the ringing part ?
The extra 50 ohms to ground should not be necessary, but they still bring the amplifier closer to a 50 ohm source impedance, at least for most of the frequency range. One could still consider a little more than 50 ohms as at the high frequencies the small diode capacitance also adds a little. Even though the distance is small, the resistor should be more to the photo-diode side, not at the amplifier input.
At the very high frequencies the ground layout can have quite some effect. A schematics may not show all and if possible a picture of the actual circuit / layout would help more.