In this task, you will be shown a prompt from a judicial decision and multiple holding statements derived from citations following text in a legal decision.  Holdings represent the governing legal rule when the law is applied to a particular set of facts. There are five answer choices for each citing text. The correct answer is the holding statement that corresponds to the citing text. The four incorrect answers are other holding statements. You should find the correct option. There is a <HOLDING> token in the position of the citing text prompt where the holding statement was extracted.

[EX Q]: the reasons for the plaintiffs failure to obtain the action or for not making the effort. Addressing the identical federal rule, the Supreme Court has stated that “[o]n its face, Rule 23.1 speaks only to the adequacy of the shareholder representatives pleadings.” Kamen, supra, 500 U.S. at 96, 111 S.Ct. 1711. The rule itself does not create a demand requirement. Id. “[T]he function of the demand doctrine in delimiting the respective powers of the individual shareholder and of the directors to control corporate litigation clearly is a matter of ‘substance, not procedure.’ ” Id. at 96-97, 111 S.Ct. 1711 (quoting Daily Income Fund, supra, 464 U.S. at 543-44 & n. 2, 104 S.Ct. 831 (1984) (Stevens, J., concurring in judgment) (other citations omitted)); see also Bazata, supra, 400 A.2d at 316 (<HOLDING>). Thus, the demand requirement or its futility 
 Holding statements: (A) holding that an antitrust injury is a necessary element of a  2 claim (B) holding that for purposes of super ct civ r 41b demand is not jurisdictional but an element of the shareholders claim (C) holding that reasonable reliance is not an element of the defense (D) holding that a motion to dismiss is not a responsive pleading for purposes of super ct civ r 15a which permits a party to amend once as a matter of course before a responsive pleading is served (E) holding the connection is an element
[EX A]: (B)

[EX Q]: before it was in assumpsit for attorney fees purposes. See Schulz, 67 Haw. at 436, 690 P.2d at 282. Although Higa is not directly on point, its reasoning is a compelling indication of how the Hawaii Supreme Court would rule on the attorney fee question before us. The plaintiffs also seek to distinguish Higa because it involved a client suing his own attorney, and thus in that case there was privity of contract between the two parties. In the present case, Mrs. Helfand was a third-party beneficiary to the contract between the defendants and Mr. Helfand. This distinction is irrelevant. Courts have extended the right to sue for breach of contract to intended third-party beneficiaries. See, e.g., Dawes v. First Ins. Co. of Hawai'i, 77 Hawai'i 117, 128 n. 12, 883 P.2d 38, 48 n. 12 (1994) (<HOLDING>); Hunt v. First Insurance Co. of Hawaii, 82 
 Holding statements: (A) holding that thirdparty claimants are intended beneficiaries under optional automobile liability insurance policies (B) recognizing common law cause of action as thirdparty beneficiary (C) holding that the shareholders were not thirdparty beneficiaries because they were not directly benefited by the contract between the government and the thrifts (D) recognizing noncontracting parties rights as thirdparty beneficiaries of an insurance contract (E) holding that shareholders lack standing to sue as thirdparty beneficiaries to allegedly breached contract unless the contract indicates the intent to benefit them directly independently of their shareholder status
[EX A]: (D)

[EX Q]: the defendant’s guideline range. See United States v. Williams, 526 F.3d 1312, 1323-24 (11th Cir.2008) (as part of history and characteristics of the defendant, district court could consider defendant’s prior offenses in deciding to impose an upward variance, even though those offenses were already included in the defendant’s criminal history score); see also 18 U.S.C. § 3661 (“No limitation shall be placed on the information concerning the background, character, and conduct of a person convicted of an offense which a court of the United States may receive and sidered the 3553(a) factors, “considered the parties’ arguments and ha[d] a reasoned basis for exercising [its] own legal decisionmaking authority.” Rita, 551 U.S. at 356, 127 S.Ct. at 2468; see also Talley, 431 F.3d at 786 (<HOLDING>). Regarding Cooper’s argument that the court 
 Holding statements: (A) holding that the district court is not required to state on the record that it has explicitly considered each of the  3553a factors or to discuss each of the  3553a factors (B) holding that there must be sufficient evidence in the record to affirmatively demonstrate the courts consideration of the relevant section 3553a factors (C) holding that nothing in booker or elsewhere requires the district court to state on the record that it has explicitly considered each of the  3553a factors or to discuss each of the  3553a factors (D) recognizing that many of the  3553a factors are already incorporated into any guidelines determination and the  3553a factors can themselves overlap (E) holding that it is sufficient for a court to acknowledge its consideration of the parties arguments and the 3553a factors
[EX A]:
(E)