Silvercorp Metals drops defamation lawsuit, withdraws appeal of decision

VANCOUVER – Silvercorp Metals Inc. (TSX:SVM) said Wednesday that it is dropping an appeal of a court decision to dismiss a defamation lawsuit against several companies and individuals accusing them of spreading lies about the mining company as part of a short-selling stock manipulation scheme. The company said, though it believes the court decision is wrong, it believes it is in its best interest and those of its shareholders to end the lengthy and expensive litigation and focus its efforts on its operations.