SEC Seeks More Time To Decide $602 Million SAC Settlement

The Securities and Exchange Commission has sought more time to decide whether money from a $602 million settlement with SAC Capital Advisors should go to investors. During the past decade, the SEC has distributed $100 million in settlement money in over 15 insider trading cases. SAC’s settlement with SEC As reported earlier, a New York federal judge granted final approval to a $602 million insider trading accord between CR Intrinsic, a unit of billionaire Steven A Cohen’s SAC Capital Advisors LP, and the U.S. Securities and Exchange Commission. The SEC alleged that CR trader Martoma made trades involving shares of Wyeth Limited…