(July 15, 2016, 12:26 PM EDT) -- NEW YORK — An emergency stay of proceedings in a securities class action lawsuit is not proper because the defendants’ reason for seeking the stay have already been rejected by a federal district court judge, shareholders argue in an opposition brief filed July 8 in the Second Circuit U.S. Court of Appeals (In re Petrobas Securities Litigation, No. 16-1914, 2nd Cir.)....