The SEC will attempt to distribute the funds from its $602 million insider trading settlement with SAC Capital to the people who were on the other (losing) side of those trades, Reuters reports. Ethan Wohl, lead attorney for the group of investors who allege they were the victims of these trades, told Reuters that “our clients are very gratified by the SEC’s decision.” Wohl’s clients have also have filed a $2 billion class action lawsuit against SAC seeking to recover their losses.
