Mealey's (April 30, 2018, 10:42 AM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on April 30 declined a request by defendants in a securities class action lawsuit to review a Second Circuit U.S. Court of Appeals ruling to resolve a split among the circuit courts as to the proper way to rebut the fraud-on-the-market presumption of reliance established in the Supreme Court’s Basic Inc. v. Levinson ruling and to resolve confusion among the lower courts as to Basic’s proper application (Barclays PLC, et al. v. Joseph Waggoner, et al., No. 17-1209, U.S. Sup.)....