Daily Sound Bite: Failed Sweetener Plant Embroiled in Bitter Lawsuit

A lawsuit is seeking $30 million from an investment banking firm and employees accused of committing fraud in a failed sweetener factory project in central Missouri. Steve Hollister, senior manager of public communications for Raymond James Financial Inc., said the company denied wrongdoing.

A lawsuit is seeking $30 million from an investment banking firm and 10 employees accused of committing fraud in a failed sweetener factory project in central Missouri. In a statement, Steve Hollister, senior manager of public communications for Raymond James Financial Inc., said:

"Morgan Keegan and its employees are not responsible for the losses suffered by Missouri taxpayers caused by the default of Moberly, Missouri on its bonds."

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