2nd Circuit OKs Squawk Box Retrial

Law360, New York (July 7, 2008, 12:00 AM EDT) -- Federal prosecutors have been given the green light to retry a group of former brokers accused of giving day traders access to confidential information via internal “squawk boxes.”

Issuing a summary order on Monday, the U.S. Court of Appeals for the Second Circuit affirmed a federal judge's ruling denying the three brokers' bid to bar a new trial on a charge of conspiracy to commit securities fraud – the sole count on which a jury last year failed to reach a unanimous verdict.

The brokers, who...
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