The Mamtek facility sits empty at the north end of Moberly.

The Mamtek facility at the north end of Moberly.

A settlement has ended the civil case against investment banker Morgan Keegan and its legal advisor, Armstrong Teasdale, in the failed Mamtek project at Moberly.

The Columbia Daily Tribune reports the details of the settlement have not been released.

The two firms were accused of misleading potential investors and failing to adequately investigate the project before offering it.

Mamtek’s former CEO, Bruce Cole, is serving a seven-year prison sentence after pleading guilty to securities fraud and for stealing as much as 1.3-million dollars from the Moberly Industrial Development Authority’s 39-million dollar bond fund.