In yet another blow to the Department of Justice,* the Second Circuit vacated the convictions in the "squawk box" case because of the prosecution's failure to turn over exculpatory evidence to the defense. The case was the second attempt at convicting the defendants for securities-fraud conspiracy for allegedly "front running" trades by conspiring with brokers to illegally listen to internal broadcasts of large trades in various securities. After the first trial resulted in a hung jury on the securities-fraud conspiracy, the government successfully retried that charge. After sentencing, the SEC initiated administrative proceedings against one of the defendants and in discovery produced various transcripts of investigative depositions that took place during the criminal investigation but that the government had not provided in discovery. Claiming these transcripts contained Brady material, the defendants moved for a new trial. The district court denied the motion, but the Second Circuit reversed. The Second Circuit also noted, "In light of the government's mishandling of material exculpatory and impeaching material, we wonder whether the government will choose to subject the defendants to yet a third trial."