Masters was convicted of murder in 1999, and Broderick was the lead investigator on the case. After Masters was released and legally cleared the city and county paid him a $10 million legal settlement. Prosecutors then brought perjury charges against Broderick.

Broderick maintained his innocence. He had been on paid leave for several years after the charges were filed. In a book published last year, Masters blamed Broderick for lying during the trial.

A Look Back: Tim Masters Case

Prosecutors today said a recent legal ruling throwing out some of the charges they brought cast the entire prosecution into question, and that they had a legal obligation to not pursue a case they didn't believe they could win.

"The two counts that were dismissed by the trial court were critical to this case," Weld County District Attorney Ken Buck said in a statement. "Without the ability to pursue those charges, we simply do not believe the case could be proven to a jury beyond a reasonable doubt. As prosecutors, we have an ethical obligation to only pursue charges that have a reasonable likelihood of resulting in a conviction."

Broderick was accused of lying in the investigation and wrongful conviction of Tim Masters for the 1987 murder of Peggy Hettrick in Fort Collins.

The two counts that were previously dismissed by the trial court included:

- An allegation that Broderick lied when he testified that there was only one shoe print impression at the murder scene made by a Thom McAn shoe.

-An allegation that Broderick lied about the color of spray paint on a bridge near the murder scene.

Buck's office was brought in to consider charges against Broderick because the Larimer County District Attorney's office worked closely with Broderick during the original case against Masters.