Instructions: 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.
Input: had relied on Generally Accepted Accounting Principals ("GAAP") to value the paintings and the land. G. Levine Test, at 86:8-87:2. Defendants, however, did not show at trial or at the remedies hearing that the assets were correctly valued according to GAAP, or that GAAP was even relevant to the question of the value of the purported interest in the Tennessee land or the Sky Jones paintings. B. The Levines Made the False Statements With Reckless Disregard for Their Veracity 8. By determining that the Levines violated 10(b) and Rule 10b-5, the jury found that the Levine's fraudulent statements were made at least recklessly as to their falsity, if not knowingly. See Jury Verdict Form [# 169]; see also Ernst & Ernst v. Hochfelder, 425 U.S. 185, 193, 96 S.Ct. 1375, 47 L.Ed.2d 668 (1976) (<HOLDING>). II.THE COMMISSION HAS PARTIALLY MET ITS
Holding statements: (A) holding that 10b and rule 10b5 apply to frauds against brokers (B) holding only purchasers and sellers of securities can recover under section 10b and rule 10b5 (C) holding that no private cause of action for damages will lie under 10b and rule 10b5 in the absence of any allegation of scienter intent to deceive manipulate or defraud (D) holding that a private plaintiff is not entitled to maintain an aiding and abetting action under 10b or rule 10b 5 (E) holding that a person violates 10b and rule 10b5 when he misappropriates confidential information in breach of a duty owed to the source of the information
Output:
(C)