Bassett and Wyle join Kate Beckinsale, Matt Dillon, Alan Alda, Vera Farmiga, Harry Lennix and David Schwimmer on the production, which commenced shooting in Memphis, Tennessee, earlier this month.
Bob Yari is producing alongside Lurie and Marc Frydman under their Battle Plan Productions banner.
Bassett will play Bonnie Benjamin, a no-nonsense editor-in-chief at a Washington-based daily newspaper whose reporter (Beckinsale) is imprisoned for refusing to reveal her sources after she outs a CIA agent.
Wyle plays the newspaper's in-house counsel who has to defend the reporter. Bassett is represented by Peter Levine at CAA and Wyle by ICM.
Nothing But the Truth marks the second collaboration between Lurie and Yari following Resurrecting The Champ.