Mealey's (January 17, 2018, 2:25 PM EST) -- NEW YORK — It is unclear whether a federal district court properly applied the correct standard in determining that defendants in a securities class action lawsuit failed to properly rebut the presumption of reliance by a preponderance of the evidence as required pursuant to the U.S. Supreme Court’s ruling in Basic Inc. v. Levinson, a Second Circuit U.S. Court of Appeals panel ruled Jan. 12 in vacating and remanding the lower court’s grant of class certification (Arkansas Teachers Retirement System, et al. v. Goldman Sachs Group Inc., et al., No. 16-0250, 2nd Cir., 2018 U.S. App. LEXIS 810)....