Are Securities Class Actions 'Supplemental' to SEC Enforcement? An Empirical Analysis

ABSTRACT As far as the author is aware, there has not been an empirical analysis of class actions in South Africa since the introduction of the mechanism by the interim Constitution of 1993 more than 25 years ago. There is no publicly available data which provides meaningful empirical insight into the operation of the South African class action. There is consequently much that we do not know about it. This article attempts to examine class actions over a period spanning more than 19 years. The purpose of the article will be to provide, through an analysis of case law, an empirical exposition of class actions instituted in South Africa using the criteria and methodology mentioned below. The study demonstrates that, although there have been only a limited number of certification judgments delivered to date, there has been rapid growth in the number of certification judgments delivered in the past five years. Most of these judgments are aimed at providing access to justice for poor and marginalised individuals. The data presented herein could place South Africa in the fortuitous position of being able to build a comprehensive data archive in which the class action is statistically dissected. Without comprehensive data concerning the operation of the class action, the available information will be insufficient from the perspective of providing adequate insight to enable its optimal development going forward. Keywords: Class action; empirical data; access to justice; certification; opt-in; opt-out; bifurcation; settlement

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Securities Class Actions Move North: A Doctrinal and Empirical Analysis of Securities Class Actions in Canada

SSRN Electronic Journal ◽

10.2139/ssrn.1410724 ◽

2009 ◽

Author(s):

Adam C. Pritchard ◽

Janis P. Sarra

Keyword(s):

Empirical Analysis ◽

Class Actions

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An Empirical Analysis of the Obtrusiveness of and Participants' Compliance with the Electronically Activated Recorder (EAR)

European Journal of Psychological Assessment ◽

10.1027/1015-5759.23.4.248 ◽

2007 ◽

Vol 23 (4) ◽

pp. 248-257 ◽

Cited By ~ 58

Author(s):

Matthias R. Mehl ◽

Shannon E. Holleran

Keyword(s):

Empirical Analysis ◽

Sampling Method ◽

Daily Life ◽

Assessment Method ◽

Data Confidentiality ◽

Short Term ◽

Naturally Occurring ◽

Two Samples ◽

Audio Recorder ◽

Term Monitoring

Abstract. In this article, the authors provide an empirical analysis of the obtrusiveness of and participants' compliance with a relatively new psychological ambulatory assessment method, called the electronically activated recorder or EAR. The EAR is a modified portable audio-recorder that periodically records snippets of ambient sounds from participants' daily environments. In tracking moment-to-moment ambient sounds, the EAR yields an acoustic log of a person's day as it unfolds. As a naturalistic observation sampling method, it provides an observer's account of daily life and is optimized for the assessment of audible aspects of participants' naturally-occurring social behaviors and interactions. Measures of self-reported and behaviorally-assessed EAR obtrusiveness and compliance were analyzed in two samples. After an initial 2-h period of relative obtrusiveness, participants habituated to wearing the EAR and perceived it as fairly unobtrusive both in a short-term (2 days, N = 96) and a longer-term (10-11 days, N = 11) monitoring. Compliance with the method was high both during the short-term and longer-term monitoring. Somewhat reduced compliance was identified over the weekend; this effect appears to be specific to student populations. Important privacy and data confidentiality considerations around the EAR method are discussed.

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