U.S. copper fabricator ends fight against JPM, BlackRock funds - lawyer

NEW YORK Mon Oct 28, 2013 3:44pm EDT

NEW YORK Oct 28 (Reuters) - U.S. copper fabricator Southwire Co will drop its lawsuit opposing the U.S. Securities and Exchange Commission's approval of physical copper exchange traded funds planned by JPMorgan Chase & Co and BlackRock Inc, the company's attorney said.

Robert Bernstein, an attorney at law firm Eaton & Van Winkle LLP which represents Southwire, told Reuters he will file the withdrawal with the court on Monday afternoon.

The decision to withdraw the legal challenge comes eight months after the firm filed a suit asking the U.S. Court of Appeals in Washington, D.C. to review the SEC's rulings that gave the go-ahead for the copper ETFs.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.