Patton was reprimanded and lost his command. He was not court-martialed.
Ike had the power to send generals home to the states where they reverted to their pre-war ranks. Lloyd Fredendahl, the man that Patton replaced in command of II Corps during the North African Campaign, got sent home rather abruptly, as did Terry Allen, the commander of 1st Infantry Division. Patton was already a general officer by 1940, so he probably would have retained his 2-stars.