Southwire Co. Drops Challenge To Copper-Backed ETFs

Law360, Los Angeles (October 28, 2013, 10:51 PM EDT) -- Copper fabricator Southwire Co. on Monday dropped its challenge to the U.S. Securities and Exchange Commission's approval of two copper-backed exchange-traded funds, saying it's unlikely the funds will be launched because of drastic changes in market conditions and increased scrutiny of Wall Street banks' involvement in commodities trading.

Southwire filed a motion for voluntary dismissal in the U.S. Court of Appeals for the District of Columbia, saying its consolidated appeal of the SEC's approval of BlackRock Inc.'s and JPMorgan Chase & Co.'s copper-backed ETFs has been mooted by recent developments....
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