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]: Inc., No. 08 Civ. 5653(PAC), 2011 WL 3874821 (S.D.N.Y. Aug. 16, 2011) ("NJ v. DLJ"); NJ Carpenters, 272 F.R.D. 160 (finding Rule 23(a) requirements were met, but not Rule 23(b)(3) requirements). 59 . DI 294, at 30-33. 60 . Pub. Emps.' Ret. Sys. v. Merrill Lynch & Co. Inc., 714 F.Supp.2d 475, 484 (S.D.N.Y.2010) (stating Section 12(a)(2) standing is limited to “persons who have directly purchased the securities from underwriting defendants in the subject public offering(s), and not in the secondary market”); In re Sterling Foster & Co., Inc., Sec. Litig., 222 F.Supp.2d 216, 244 (E.D.N.Y.2002) ("[P]urchasers in private or secondary market offerings are precluded from bringing actions under Section 12(a)(2).”). 61 . DI 294, at 30; DI 300, at 17. 62 . See IndyMac I, 718 F.Supp.2d at 513 (<HOLDING>). 63 . This of course means that it does not 
 Holding statements: (A) holding that a party waived the claims she failed to pursue in her merit brief (B) holding that because  544b1 provides only the power of avoidance it does not confer authority on the trustee to pursue state law damage claims but that the trustee could pursue such claims under  544a1 or 2 if the claims could have been asserted by the debtor corporation (C) holding pinter analysis to apply to claims arising under  12a2 (D) holding that a trustee had no standing to pursue claims of fraud against the debtors accountant because under connecticut law those claims belonged to investors (E) holding wyoming only had standing to pursue section 12a2 claims as to indx 2006ar11
[EX A]: (E)

[EX Q]: defense, or a development in the controlling law that foreclosed the claim. The record here betrays no significant change in circumstances prior to trial that reasonably should have caused the plaintiffs to conclude that their claims were no longer viable. In fact, the most notable development in the case prior to trial sent a contrary signal: the court denied the Mayor’s post-discovery summary judgment motion as to the plaintiffs’ central political discrimination claim. While the fact that a claim has survived summary judgment is not, on its own, “entitled to decretory significance,” Foster, 943 F.2d at 144, it has some value in determining whether a claim was or became unreasonable or without foundation. See id.; Walker v. NationsBank of Fla. N.A., 53 F.3d 1548, 1559 (11th Cir.1995) (<HOLDING>); Jensen v. Stangel, 762 F.2d 815, 818 (9th 
 Holding statements: (A) holding that district court abused its discretion in finding suit unreasonable and groundless where inter alia the court had denied two prior summary judgment motions (B) holding district court abused its discretion in admitting state court findings of fact (C) holding that the trial court grants or denies motions for summary judgment on the basis of what is contained in the motions for summary judgment and the responses thereto (D) holding that district court had not abused its discretion in denying plaintiffs motion to amend complaint (E) holding district court did not abuse its discretion in ruling on summary judgment motion where inter alia plaintiff had been given repeated notices court intended to rule on motion and it was plaintiffs burden to rebut defendants evidence
[EX A]: (A)

[EX Q]: finds that FMI has failed to satisfy its burden on these issues, it need not address the other criteria. Irreparable Injury Whatever harm FMI may suffer by having its franchise terminated does not constitute irreparable injury. First, the loss of the Audi franchise may result in reduced revenue, but FMI will not go out of business altogether. FMI will still be able to deal in BMW, Mercedes-Benz and Porsche automobiles, and money damages would suffice to compensate for any loss of additional revenue attributable to Audi sales. See C-B Kenworth, Inc. v. General Motors Corp., 675 F.Supp. 686, 687-88 (D.C.Me.1987) (finding all alleged injuries from loss of truck franchise to be compen-sable at law); Miller Plymouth Center, Inc. v. Chrysler Motors Corp., 286 F.Supp. 529, 532 (D.Mass.1968) (<HOLDING>). Moreover, given FMI’s poor customer service 
 Holding statements: (A) recognizing that impossibility but not mere difficulty excuses a partys performance (B) recognizing that courts and commentators have had difficulty determining the meaning of good faith in the definition of fair consideration  (C) recognizing the difficulty of calculating damages but not finding the task impossible (D) recognizing the difficulty of determining a nonspeculative hypotheticallicense damages amount when the infringer is a direct competitor (E) recognizing the difficulty of precisely pleading the effects on interstate commerce before completion of discovery
[EX A]:
(C)