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.

[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
[A]: (E)


[Q]: Legislative acts are those which involve policy-making decision of a general scope or, to put it another way, legislation involves line-drawing. Where the decision affects a small number or a single individual, the legislative power is not implicated, and the act takes on the nature of administration. In addition, the act must be “procedurally” legislative, that is, passed by means of established legislative procedures. This principle requires that constitutionally accepted procedures of enacting the legislation must be followed in order to assure that the act is a legitimate, reasoned decision representing the will of the people which the governing body has been chosen to serve. E.g., Immigration & Naturalization Service v. Chadha, 462 U.S. 919, 103 S.Ct. 2764, 77 L.Ed.2d 317 (1983) (<HOLDING>). Thus, the procedure the legislature follows 
 Holding statements: (A) holding on the merits that the existence of an unexercised legislative veto provision in a statute would render invalid actions taken under the statute unless the legislative veto provisions were severable from the portion of the statute pursuant to which the challenged actions were taken (B) holding that legislative consent to suit must be by clear and unambiguous language in either a statute or by other express legislative permission (C) holding onehouse legislative veto unconstitutional (D) holding that determining legislative intent is a question of law (E) holding acts of voting to be quintessentially legislative and the introduction of a budget to be formally legislative
[A]: (C)


[Q]: as McColman argues. Federal Rule of Civil Procedure 15(b)(2) provides: When an issue not raised by the pleadings is tried by the parties’ express or implied consent, it must be treated in all respects as if raised in the pleadings. A party may move — at any time, even after judgment — to amend the pleadings to conform them to the evidence and to raise an unpleaded issue. But failure to amend does not affect the result of the trial of that issue. By its plain terms, Rule 15(b)(2) only applies to claims that are tried, and this case was disposed of on summary judgment. Further, Doan did not consent to trying the handcuffing claim — he objected to the claim in both his motion for summary judgment and at oral argument on that motion. Cf. Siler v. Webber, 448 Fed.Appx. 50, 58 (6th Cir.2011) (<HOLDING>). The fact that Doan would not have been 
 Holding statements: (A) holding that where parties did not respond to an issue in summary judgment motion parties relinquished any claim on the issue and conceded that summary judgment should be entered against them (B) holding unpleaded claims or defenses that are tried by express or implied consent of parties are treated as if they had been raised by pleadings even in summary judgment proceedings (C) holding an issue not raised in the pleadings is tried by implied consent where the issue is presented considered and ruled upon by the trial court without objection (D) holding that an issue cannot be tried by the parties consent pursuant to rule 15b2 where one of the parties opposes trial by moving for summary judgment (E) holding order nonfinal where parties agreed to reserva tion on issue ripe for adjudication and tried by parties
[A]:
(D)