morgan keegan

mamtek
Kristofor Husted / KBIA

Attorneys say an investment firm has settled a federal lawsuit accusing it of bilking investors out of $39 million in a failed effort to build an artificial sweetener plant in Moberly. 

mamtek
Kristofor Husted / KBIA

A federal judge has ruled that the city of Moberly, Mo., and its industrial development authority are not responsible for bonds involved in a failed artificial sweetener plant project.

steakpinball / Flickr

A new lawsuit is seeking $30 million from an investment banking firm and 10 employees because of a failed factory project in central Missouri.

Morgan Keegan, which has merged with Raymond James Financial Inc., was the underwriter in 2010 for a $39 million bond issue for a failed artificial sweetener factory for Mamtek US Inc. in Moberly. Construction on the factory stopped in August 2011 when Mamtek failed to make a required bond payment.