Select Case

This works in Oraedit, but now I'm trying to add it to cobol (as embedded) and can't even get it to compile...  

    EXEC SQL
        SELECT case   
            when TO_CHAR(C.HOLLYDATE,'MM-DD-YYYY') =  
                 TO_CHAR(SYSDATE,'MM-DD-YYYY')
              and C.STARTTIME <= to_char(sysdate,'HH24:MI')     
                 and C.STOPTIME  >= to_char(sysdate,'HH24:MI')
               then  'TRUE'
               ELSE 'FALSE'
      END HOLIDAY
           from dual a, HOLIDAY C  
                where TO_CHAR(C.HOLLYDATE,'MM-DD-YYYY') =
                      TO_CHAR(SYSDATE,'MM-DD-YYYY')
     END-EXEC.   
    
2 cobch0803 000400 encountered the symbol "then" when expecting one of the following:

1 cobch0149 no sql directives have been set