Mealey's (October 4, 2016, 12:11 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on Oct. 4 declined review of an appeal of an 11th Circuit U.S. Court of Appeals panel’s ruling affirming a state court order in a securities class action lawsuit that determined that a jury instruction improperly stated the law governing a federal securities fraud claim (Richard I. Fried v. Stiefel Laboratories Inc., et al., No. 15-1458, U.S. Sup.).

Former Stiefel Laboratories Inc. Chief Financial Officer Richard Fried filed an amended complaint in the U.S. District Court for the Southern...