NEW YORK Oct 28 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.