Mealey's (April 26, 2018, 3:43 PM EDT) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel’s ruling that a policyholder’s “passive retention” of his annuity funds fails to meet the “in connection with” requirement for Securities Litigation Uniform Standards Act of 1998 (SLUSA) preclusion because an insurance company issued the misrepresentation to state regulators and not the policyholder directly conflicts with U.S. Supreme Court precedent on the application of SLUSA’s “in connection with requirement,” the defendant argues in an April 24 petition for rehearing (Richard O’Donnell v. AXA Equitable Life Insurance Co., No. 17-1085, 2nd Cir.)....